Mortgage Floor Clause Question

Hi, we filed against the Sabadell in February 2018. The bank was originally the Caixa Penedes, As it is now August 2019 I wondered if anyone has had a successful court decision and also how long did it take. The court dealing  ( or not) is in Tarragona .

Basically I just need to know that there are some successes and how long the court process took

Lorna x

Re court delays/collapse in Spain and to put this into perspective .....

According to this article back in October 2018 

https://www.judicaregroup.com/site/blog/brazil-blog/spanish-court

“To give you an idea as to the figures; consider that from April 2017 to March 2018 there were 208,651 new Floor Clause Claims lodged at Court and during the same period of time only 29,849 Floor Clause Claims were resolved through the Courts. As you can see they weren’t even resolving the same number that they receive, let alone getting through the backlog.”

The article went on to confirm however “More Judges have been brought in and in the case of Floor Clause Claims, new Courts are being established to work their way through the backlog.”.

Given all of the above, perhaps best you ask your legal representative to request the court procurator handling your case to advise on current delays in your relevant region, as each region appear to be affected differently. In other words people could respond to your request for info but it might not prove relevant to your specific court region.

sorry but you could be waiting a long long time.....Try contacting Maria de Castro on here, her company Costa Luz lawyers has had many successes and may be able to give you some answers

I now wonder if those compromised by major court and judicial delays who have been fighting for justice with regard to Bank Guarantee claims ( ley 57/68) for all too many years, are now being further compromised by judges being moved to other courts in response to the large numbers of floor clause claims?

Perhaps Maria could confirm if this is happening and if so can anything be done to resolve this problem?

Just thought I would add an update for anyone trying to get money back from a floor clause in their deeds.

As you can see from my other post I filed against the Sabadell bank in February 2018.

Well we had to use a company to fight our cause and initially we lost because the bank claimed I had signed a disclaimer which I had no knowledge of, it appeared that when I was invited to change the terms of my mortgage to a fixed rate, the bank manager managed to sneak in the disclaimer, as I don't have great Spanish I had no idea I was signing my rights away.

Sooooo we appealed and on the 13th of Jan, the appeal was hear and WE WON !!!

So any of you guys going through it, hold your nerve. x

Lorna

Hi, my wife has managed to claim from the bank (Caja Rural) last year.  In 2017 she submitted all documentation to a firm of solicitors in Malaga on a no win no fee basis.  They established that there was a valid claim and the court process began.  Two years later she went to court and won the case.  The bank appealed.  Two years later (2020) the bank decided to settle out of court and case closed.I will point out that although she signed paperwork changing the mortgage and probably a disclaimer the court chose to ignore this disclaimer.  The solicitors fee was 20% of the award made to her.

Hope this helps, just be prepared for a long wait.

Congrats!

Legal costs are imposed to Banks in these cases.

Maria, 

Is there any update to the situation with Floor Clauses and other charges that were deemed unlawful? 

Thanks.

Mike.

You can find here an article on all abusive clauses:

https://costaluzlawyers.es/blog/list-of-all-abusive-clauses-that-a-mortgage-may-contain/

Please, feel free to make any questiion

Best

Maria

Maria,

Thanks for the link.

Will be in touch,

Mike.

We are still active in recovering overpaid interest on Spanish Mortgages, Floor Clause being the main refund but there are other overcharges we have recovered. Yes it takes time.... 

We work on no win no fee and will asssess your mortgage deeds quickly and let you know

If I can help please reach out 

William Bell

EU Property Solutions and Spanish Floor Clause

Yes, still much to claim!

We updated our post below recently:

https://costaluzlawyers.es/blog/list-of-all-abusive-clauses-that-a-mortgage-may-contain/

You can read there the whole list of mortgage abusive clauses

A hug!