My name's Alex and this is my website all about Sax in Spain. Register now for free to talk about Banking and finances in Sax and much more!
Spanish mortgage floor clause ( clauselo suelo)
Posted: Sun Oct 1, 2017 11:59am
Is anyone else on here dealing with their bank over this issue? Some Spanish banks inserted a floor clause into their mortgages,preventing the interest rate dropping below a certain level. Usually around 3.5%. This has since been ruled illegal by the Spanish High Court and the banks have been ordered to refund the interest overpayments. In my case,this is in the thousands. I was just wondering if anyone else is having problems with their refund due to the banks reluctance to settle,and a dragging of heels by their bank.
