Spain’s Bankia to refund all clients over “abusive” mortgage clauses

Spain’s Bankia to refund all clients over “abusive” mortgage clauses

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Article from El Pais

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Spanish lender Bankia on Monday announced it plans to refund charges to all of its mortgage holders affected by so-called “floor clauses” (cláusulas suelo), which saw a lower limit imposed on monthly mortgage repayments no matter how much the interest rate on the loan fell, and which have been found to be abusive according to a ruling by the European Court of Justice (ECJ). Some 1.4 million bank customers in Spain are thought to be affected.

Read the full article here

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Following a judgment 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 a so called “floor clause” or clausula suelo.

Please contact us for a free review of your mortgage deed if you suspect that you may have a mortgage containing this clause and you are interested in claiming compensation Contact Us

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