Floor clause, IRPH, mortgage expenses…
Abusive clauses are conditions that are not individually negotiated between the entrepreneur and the customer and which cause an imbalance that is detrimental to the latter: the “strong” party in the relationship “abuses” its position by imposing conditions in the contract that lighten its obligations and bring it greater benefit, while imposing more burdens and causing more harm to the customer.
In the case of mortgages, Banks tend to make the same type of contract for many clients, where they impose conditions that make them benefit more at the expense of the client.
At Abolex Abogados we are experts in claiming these clauses, obtaining for our clients the recovery of whatever they have overpaid, even if their mortgage has already been cancelled.
After your consultation, we will study your case without any obligation, we will advise you and, as soon as you give us your consent, we will start the appropriate proceedings, accompanying you throughout the process until you obtain your profit. And remember: if we don’t win, we don’t get paid.
We will claim all kinds of abusive clauses, some of the most well-known being:
Floor clause
A clause added by the Banks in the mortgage loan contracts by which, although the market interest varies, they ensure that they receive a minimum interest in each monthly payment, at the expense of the client, who is not allowed to benefit from it when it plays in his favour.
The Court of Justice of the European Union has declared that banks must return any amounts that have been overpaid due to this clause since the signing of the mortgage. But banks are not obliged to return money if it is not properly claimed, so it is absolutely necessary to have good professional advice, as the procedures to follow and the calculation of the amount are complex.
If you think your mortgage is affected, at Abolex Abogados we will study your case without any obligation and we will clarify it, helping you to recover what you would have paid too much.
IRPH
Reference indices are used to calculate market changes. In Spain, the most widely used are the Euribor and the IRPH (Mortgage Loan Reference Index). The latter is calculated by averaging the interest rates applied by savings banks and banks and means that the mortgages that take it have a very high interest rate.
According to the recent ruling of the European Court of Justice on this matter, if the bank has inserted it in any clause of the mortgage loan without informing the customer prior to signing it in such a way that the operation of the calculation method and the economic consequences are understandable to him, he may request its replacement by a legal index applicable in a supplementary manner from the beginning of the loan, so that the amounts paid in excess may be recovered, which the banks would have to return.
At Abolex Abogados we have extensive experience in bank claims and we will guide and accompany you throughout the process so that you can recover your money.
Mortgage expenses
When a mortgage is formalized, there are some expenses derived from the payments of: agency, appraisal, Notary’s office, Registry, taxes… These are the invoices that are usually attached to the mortgage.
Legislation and jurisprudence establish the criterion of distributing these expenses between the two parties that contract the mortgage loan, so that the client does not have to bear them alone, as has been customary imposed by the banks in such contracts.
Abolex Abogados will help you claim and recover the excess payment for the expenses generated by the formalization of your mortgage.
