Floor Clause Spanish Banks

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Floor clause on spanish mortgages

Over 40 banks in Spain between 2008 and 2013 entered a clause in their spanish mortgages called a Floor Clause and this was recently deemed illegal by the European Courts in Luxemborg. This floor clause on the spanish mortgages meant that when the Eurobor rate, that determined the rate of interest you paid on your spanish mortgage and therefore the monthly charge, lowered your mortgage rate stayed the same. So when the Eurobor rate was at its lowest in many years your mortgage interest should have been reflected in this and your monthly payment amount should have been very low, it was artificially held at a higher rate.

The court ruling has opened the gates on about 2.5 million people being able to claim this money back, with average refunds of 12,000 - 15,000 euros!

The market leader in helping you claim back money is www.floorclausespain.com so why not give them a call and see if you have a compensation claim?

Several thousands of people have succesfully used their service and claimed back what was rightfully their on this unjust floor clause on their spanish mortgage

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