May.05 2024

How to claim for the ground clause and retrieve mortgage expenses

If you have or have had a mortgage in Spain in order to buy a property, this article shall be of some

Do you have a mortgage loan? Did you know that it could have a ground clause, as well as the fact that you have the right to retrieve some expenses arisen from Notary, agency and Register that you had to pay when you bought the property?

There were many banks which, within the agreements for a mortgage loan, included the well-known ground clause, something that set a minimum interest to be paid with each monthly fee, regardless of the level to which the Euribor was quoting up, harming consumers who could not benefit from the drops, as it happened years ago.

Finally, the Supreme Court has given the reason to the consumer, saying that the abovementioned ground clause is abusive and must be annulled and which shall be left without effect, a fact that enables all consumers to claim against the bank, in order to declare the nullity of the ground clause, a fact that shall force the bank to stop applying the same -if it has not been done previously- and to return the extra amounts paid when applying the mentioned ground clause.

It is of special interest to bear in mind that those consumers whose mortgage loans have been cancelled also have right to claim for it.

Apart from the abovementioned, consumers also have the right to claim for 50% of the amounts paid for notary, register and agency, payments totally born by the consumers themselves.

How can you claim?

Once we have studied the mortgage loan deed, which shall enable us to know for sure wether the mentioned mortgage loan has any abusive clause, the next step is to initiate extrajudicial proceedings, formalizing a complaint before the Customer Service of the bank, and this last one has a máximum term of 3 months to reply.

If, after finishing the abovementioned term, the bank has not given any reply or dismisses the claim, we shall then go to Court in order to have a court decisión with which the clause is being declared void and it orders the bank to return amounts unduly paid, ordering costs of the procedure to the bank.

Therefore, do not hesitate to contact us, and without any compromiso, we shall tell you if your mortgage loan has any abusive clause and, as a consequence, you have the right to claim for it.

How can we help you?

If you send us a copy of the mortgage loan deed, we shall study it in order to know if it has a ground clause.

In case it has and, therefore we can claim for it, our fees are based on a percentage of the amount recovered, so you will not have to assume fees without first obtaining a positive result.

Do not hesitate to contact us so we can advice you on this matter and get more information of the claim process.