New case won: SABADELL SOLBANK must return almost 500,000 Euros to buyers at the Cala Romántica development in Mallorca for a failed off plan property development.

This was ordered on 19th December 2017 by the First Instance Court Number 8 of Marbella, Malaga, Spain. The responsibility derives from the issuance by BANCO CAM (now SABADELL SOLBANK) of a General Line of Guarantees for the refund of advanced payments according to Law 57/1968.   This is a new … [Read more...]

Spain’s IRPH Mortgages to be revised by Europe?

Clients with mortgages linked to the IRPH index in Spain aim to refer their case to the European courts. They have been encouraged by the vote of two Supreme Court Magistrates who believe that the clause does not meet the required transparency control. On November 22, Spain’s Supreme Court ruled … [Read more...]

Costaluz won 42 times against banks so far in 2017

CITY COURT BANK / INSURER PROMOTOR DEVELOPMENT ORIHUELA P1 SGR, BBVA, BANCO SABADELL HERRADA DEL TOLLO S.L. SANTA ANA DEL MONTE GRANADA P2 BANCO SABADELL RUDINA MIRADOR DE IZNALLOZ ELCHE P1 BBVA (CATALUNYA BANC SA) BRONCHO PROMOCIONES LA TERCIA … [Read more...]

Castellon Provincial Appeal Court in Spain reduces Banks rights due to use of small print

The 3rd Section of Castellon Provincial Appeal Court has recently limited the claim of a Bank by allowing it to claim only the principal of the debt (4,600 euros) but not the interest (766 euros) since it annuls the clause that sets the interest. This annulment is because the typeface in which it is … [Read more...]

Anticipated maturity clause null in Spain mortgage loans

The Spanish Supreme Court in its decisions dated 23rd December 2015 and 18th February 2016 has ruled on the nullity of the clause on early maturity of mortgage loan which: (a) does not discriminate the class of default of the debtor, or (b) entitles the creditor to cancel the contract on default … [Read more...]

Claim a refund for fees imposed on you by the Bank when opening your Spanish Mortgage

IF YOU HAVE A MORTGAGE IN SPAIN YOU COULD CLAIM A REFUND FOR SOME OF THE FEES YOU PAID WHEN TAKING OUT THE MORTGAGE In December 2015, the Spanish Supreme Court ruled that mortgage clauses introduced by Banco Popular and BBVA that forced borrowers to pay all fees related to taking out the … [Read more...]

Cláusula Suelo – ECJ Press Release – 21 December 2016

COURT OF JUSTICE OF THE EUROPEAN UNION - PRESS RELEASE No. 144/16 - Luxembourg, 21 Dec 2016 CLAUSULA SUELO - MORTGAGE FLOOR CLAUSES Spanish case-law placing a temporal limitation on the effects of the invalidity of ‘floor clauses’ included in mortgage loan contracts in Spain is incompatible … [Read more...]

Nullity of mortgages on illegal properties

A thinking after finding some excellent Court Decisions by Appeal Courts (Burgos is always great on protecting consumers rights of off plan buyers): Nullity of sale due to lack of consent by the buyer as he did not know or knew wrongly on important features of the property BRINGS ATTCHED the … [Read more...]

Tips when taking a mortgage

1. Only obligatory Insurance is a  home insurance with coverage against flood, fire or earthquake. Just the house ( nor soil or content) needs to be insured. Look at the  "insuring value" that the property has. This is contained on the valuation report made by the Bank. 2. Any other insurances … [Read more...]

Leon on Banks liabilities

Recent, December Court Decission by Leon Appeal Court stating that: Regardless the existence of a "special account", if there are enough evidences ( Bank being sole financer, Bank knowing private contracts...) for the Bank to know that those amounts were off plan payments by buyers, applying Law … [Read more...]

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