Spanish mortgage floor clause ( clauselo suelo) - Current situation

Posted: Thu Aug 5, 2021 11:56am

3 replies55 views1 member subscribed

PabloX

Posts: 18

4 helpful points

Location: Jalon / Xaló

Joined: 5 Aug 2021

Hello all,

I know this subject has been around for a while but in the early stages, the courts seemed to be overwhelmed with the sheer number of claims and ground to a virtual crawl. I decided at that stage to delay any claim until things got better.

Initially, there seemed to be a lot of interest from legal/claims companies to pursue the Banks on your behalf but lately, I'm not seeing much interest. Is this because the courts have stopped awarding costs?

Has anyone got any insight as to the current situation in the courts regarding progress or any recommendations as to the best way to proceed with a claim? I have tried approaching a local lawyer in Spain but their charging structure seems unbelievably opaque to say the least.

Thanks

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Posted: Thu Aug 5, 2021 1:22pm

killjoy

Super helpful member

Posts: 3230

1852 helpful points

Location: Orihuela Costa

Joined: 4 Nov 2017

Posted: Thu Aug 5, 2021 1:22pm

In 2107 the High Court ruled the "Clausula suelo" being contrary to Law, opening the way to claim compensations. A Lawyer may cost you more than tre money involved. Talk to your bank and try to come to an understanding as the legal situation is perfectly clear. Chances are, however, not very promising. There are renown lawyers specialised in this issue. In any case, always ask for a written estimate to avoid surprises. See www.reclamador.es

Posted: Thu Aug 5, 2021 3:46pm

PabloX

Original Poster

Posts: 18

4 helpful points

Location: Jalon / Xaló

Joined: 5 Aug 2021

Posted: Thu Aug 5, 2021 3:46pm

killjoy wrote on Thu Aug 5, 2021 1:22pm:
In 2107 the High Court ruled the "Clausula suelo" being contrary to Law, opening the way to claim compensations. A Lawyer may cost you more than tre money involved. Talk to your bank and try to come to an understanding as the legal situation is perfectly clear. Chances are, however, not very prom...

Read more...

...ising. There are renown lawyers specialised in this issue. In any case, always ask for a written estimate to avoid surprises. See www.reclamador.es

Thanks for the response.

I tried approaching the Bank (Sabadell) a few years ago, unfortunately, they are one of the most aggressive Banks in fighting any claims. I had some success using ADS Abogados in respect of mortgage charges, but it took over 2 years and I only recovered just over 20% of the initial claim. ADS receiving about 25%.

I had thought about approaching one of the Spanish consumer groups (OCU.org) for help but I don't think my Spanish is fluent enough.

I will look into the services offered by Reclamador.es

Cheers Pablo

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Posted: Fri Aug 6, 2021 12:57pm

PabloX

Original Poster

Posts: 18

4 helpful points

Location: Jalon / Xaló

Joined: 5 Aug 2021

Posted: Fri Aug 6, 2021 12:57pm

killjoy wrote on Thu Aug 5, 2021 1:22pm:
In 2107 the High Court ruled the "Clausula suelo" being contrary to Law, opening the way to claim compensations. A Lawyer may cost you more than tre money involved. Talk to your bank and try to come to an understanding as the legal situation is perfectly clear. Chances are, however, not very prom...

Read more...

...ising. There are renown lawyers specialised in this issue. In any case, always ask for a written estimate to avoid surprises. See www.reclamador.es

Hello Killjoy,

Reclamador.es Web site looks very professional and comprehensive. I like that they appear to be upfront with their charges/costs. Have you actually used them yourself?

Regards Pablo