Do you have a Mortgage on your Spanish property? You could be entitled to a refund of thousands of Euros.
Following a judgement of the European Court of Justice on 22nd December 2016 you may be able to claim compensation from your bank if you have a mortgage containing an unlawful "floor clause".
What is a floor clause?
Many Spanish tracker mortgages were linked to a variable interest rate such as the European Borrowing Rate (Euribor).
A lot of these mortgages had a floor clause which meant that even if (as it did) the official interest rate the mortgage was tracking dropped to a very low level, the customer’s mortgage was stuck at a minimum rate 'the floor rate' which was higher. This meant people were, and in some instances still are, paying much more than they should have been.
In May 2013, Spain's Supreme Court ruled that mortgages of this type provided by BBVA, Cajamar and NCG were "abusive" but banks were not initially ordered to refund customers.
In April 2016 a Madrid judge went even further and decreed that forty of Spain's biggest lenders had to pay back borrowers the additional interest paid on mortgages dating back to 2013.
The more recent ruling in December 2016 by the European Court of Justice ordered that there should not be a time limit on how far back you can claim and banks should pay back all of the interest you overpaid.
If you have one of these mortgages, you can now claim for the wrongly charged interest you overpaid going back to 2008 in many cases. The total losses you could have experienced could be €200 or more per month on a mortgage of €150,000. That means claims could be as high as €20,000. If you believe you may have a mortgage with a floor clause, contact Hardwick Financial Solutions and in partnership with Sarah Waddingtons Solicitors we will review your mortgage deed and advise if you are able to claim and approximately how much compensation you could receive.
Documents that we will require to be able to validate the claim:
Copy of Mortgage deed
Copy of passport
Copy of NIE
If they do not have copies of the mortgage deeds we will need copies of any repayment receipts and any other documentation relating to the mortgage.
Banks we can reclaim from:-
Banco Bilbao Vizcaya Argentaria
Banco Caixa Geral
Banco de Valencia
Banco Popular Español
Bank of Isabella II
Bank of San Fernando
Bank of Spain
Bilbao Bizkaia Kutxa
Caja de Ahorros del Mediterráneo
Caja General de Ahorros de Canarias
Fondo de Reestructuración Ordenada Bancaria
NCG Banco, S.A.
Spanish Confederation of Savings Banks
Our no win no fee promise
We will never ask for any money from you to start your claim. We take our fee's from the conclusion of your successful claim no matter how long or complicated a case it is.
We do everything for you, all you need to do is speak to us and go through any information you have, we will then take care of the rest for you.
Once we have been successful with your claim you get paid before we take our fee.
Why choose Claims2gain
We do everything for you, its easy.
We complete most of the complicated and lengthy paperwork on your behalf.
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Most of our claims are completed and settled within weeks.
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