Spanish Mortgage ‘Clausula Suelo’ Claims Experts
If you had a mortgage in Spain between 2008 and 2013 then you could be owed thousands in compensation after the European Court of Justice ordered 40 different Spanish banks to refund their clients all the money they had taken on unfair mortgage Clausula Suelo / floor clauses.
How can I tell whether there is a ‘Floor Clause’ or ‘clausula suelo’ in my mortgage contract?
If you had a mortgage in Spain between 2008 and 2013 then you could be owed thousands in compensation after the European Court of Justice ordered 40 different Spanish banks to refund their clients all the money they had taken on unfair mortgage floor clauses. It is hard to say as you may not have noticed, that you should have been paying less than you actually did so the best thing we suggest is to let us look into this for you. If you have the original paperwork for the Spanish mortgage then it will be in that document so you can always have a look. If you do not have the mortgage paperwork then you can request this from your bank or we can do this for you.
Why should I make a ‘clausula suelo’ claim at all?
The most obvious one is that you can reclaim back the money that you have over paid at that time, with very little hassle to you. The second is that you can get your mortgage agreement changed to have this clausula suelo removed so in the future you will not have to over pay on the mortgage payments.
What if the bank proposes a deal to me?
What has started already is that the banks are trying to offset the huge amount of money they are going to have to repay by offering to remove the ‘clausula suelo’ if you agree to purchase another product with them. You do not need, nor are obligated to do this and can still have the clausula suelo term removed without committing to anything new such as an insurance. If the bank has already proposed an agreement to you relating to your ‘clausula suelo’, get in touch with us first to ensure you are getting the best deal possible as they may be offering you something lower that the value of the correct claim. We will give you impartial advice on whether you should accept their deal or instead pursue a better one through the courts.
Will I definitely get both the ‘clausula suelo’ clause removed and be paid compensation?
- If your claim is made in the correct way then you will receive full compensation from the bank as well as the removal of the clause plus the reduction in all future mortgage payments.
- If the clause has already been removed by my bank then can I still make a claim for compensation?
100% yes you can still claim! It was ruled that the ‘clausula suelo’ is abusive, and therefore it must approve your compensation claim.
If I have already moved out of the property can I still make a claim?
Within 3 years of moving out of the property you can still make a compensation claim.
How do I start making a compensation claim?
Simply fill out a basic compensation claim form and we will be in touch (in English) to organise the claim for you. We will look at your mortgage terms and advise you on what to do next, completely free of charge. Click below to go to the contact page
Do I have anything to lose by making a clausula suelo compensation claim?
Not really because the European Court has already ruled in your favour and determined that your bank has been overcharging you illegally so you should be guaranteed some compensation. You have every right to reclaim that money and also to reduce your ongoing mortgage payments.
Does it cost anything to check if I have the clause?
It will only cost you a few minutes of your time to discuss your case with us as there is no cost or fee to check your contract for the clausula suelo or floor clause term.
What is the fee you take for a successful clausula suelo claim?
Our services are ‘no win no fee’ but once we have secured your compensation claim then our fee is 20%. During the compensation claim process, in some cases the claim will require a notary and/or government prosecutor (around 150 Euros overall) to be involved to protect you. You do not pay this to us and these are fees which you would undertake yourself direct with a notary and prosecutor but we can advise you at this stage if it is relevant.
Why should I let you take care of my compensation claim?
We work with a registered legal practise in both Gibraltar and Spain so you are covered by the security of the English / Gibraltarian Legal System. Your clausula suelo claim will remain in your name at all times but your money will pass through a registered escrow account to ensure its security until it reaches your bank account
If I had or have a commercial mortgage can I still make a clausula suelo compensation claim?
Yes you can - the process that we need to follow on your behalf is slightly different and requires different paperwork relevant to the commercial mortgage and the terms of the clausula suelo claim but this does not really affect you