Claim Against Spanish Banks

The Spanish Floor Clause

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WHO CAN CLAIM?

A floor clause (or “cláusula suelo” in Spanish), usually entered in a financial agreement in relation to a cap floor or minimum interest rate, refers to a specific condition generally included in financial contracts, principally loans.

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How does it work?

As a loan can be agreed based upon fixed or variable interest rate, the loans agreed with variable rates are usually linked to an official interest rate (in the UK the LIBOR, in Spain the EURIBOR) plus an extra amount (known as spread or margin).

Is this a new issue?

These schemes have been used for many years in banking, and have been deemed as a useful way to keep the risk and uncertainties of the signing parties of a mortgage at bay. Read more below..

Banks we make claims against.

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Client
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In the first instance check your mortgage against the following quick questions


Date

Does the mortgage date between 2000 and 2015 ?

Fluctuation

Did you notice any ‘fluctuation’ in your mortgage payments?

Samples

Can you provide a sample of at least 3 months mortgage payments, together with Bank statements if possible

Signed Docs

Have you signed any other document or agreement with the Bank during the mortgage term, if so, what ?

Deeds

Can you provide copy Mortgage Deed (Escritura de Hipoteca) and/or Terms of Mortgage Offer (Oferta vinculante de Prestamo – Hipotecario)?

Do I have Them?

These documents should have been provided to you by either the Bank or your Lawyer or the Notario


We  will formalize your claim against the bank. 
Reclaim the overpaid amounts.


If you have been the victim of the unfair interest rate floors, you can now recover the overpaid amounts and get a reduction on your interest

We get the Job done.


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2,500,000

People Effected

99%

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15,000

Average Claim Amount
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