The Supreme Court in Spain changes its criteria in relation to consumer agreements

The Supreme Court in Spain has changed its criteria in relation to consumer agreements, provided that it is proven by the Bank that the client was able to know the economic and legal consequences of its acceptance. In a ground clause case in which bank and client reached an agreement in order to … [Read more...]

Abusive Clauses – Specialised Courts in Spain almost 100% in favour of consumers

According to the National Commission of Judicial Statistics, of our General Council of Judicial Power, 98.3 percent of the 9,000+ Court Decisions issued in 2017 by courts specialised in abusive clauses were favourable to the consumer. 98.3 percent of the 9,326 Decisions passed last year by the … [Read more...]

Off-plan property case won by CostaLuz Lawyers-DeCastro for a property in ‘Calas del Pinar’ from the developer Peinsa 97 SL

Case won by Costaluz Lawyers-DeCastro in Peinsa 97, SL development “Complejo residential Calas del Pinar”, Pulpí, Almeria. Banco Santander S.A, has been condemned to return to the claimant € 103,493.54 plus the legal interest ( 4%-5% annual) from the dates payments were made to Peinsa. The Bank … [Read more...]

Spain’s Supreme Court bringing questions before Europe on IRPH index

Last December 2017, the Supreme Court in Spain declared that material transparency control of the IRPH clause was not due as this was a legal index. The sentence, naturally, received harsh criticism and raised doubts about its compliance to the doctrine of the European Union regarding the control … [Read more...]

Spain Supreme Court Decission on the importance of pre-contractual information for mortgage contracts in Spain

SENTENCE No. 643/2017 OF TS, ROOM 1, OF THE CIVIL, NOVEMBER 24, 2017 A recent Sentence which gives protection against abusive clauses to all mortgage debtors who subrogated developer’s mortgage contracts during the real estate boom. This is another sign of the magnificent work the Supreme … [Read more...]

Spain’s Supreme Court keeps explaining Floor Clauses in Mortgage contracts: No agreement can eliminate effects of nullity

What is null and void cannot bring any effect or as the Roman’s used to say “Quod null est, nullum effectum producit” When a clause is null and void, it is null from day 1 of its existence and all effects derived from its inclusion on a contract, need to be reversed as they should have never … [Read more...]

Spain’s Supreme Court rules that banks must pay interest and court costs on Floor Clause cases

In a very recent sentence dated 11 October 2017, the Civil Room of the Supreme Court reiterated doctrine first expressed on 4 July 2017. In accordance with the principles of defeating, not linking the consumer to the abusive clauses and effectiveness of European Union law, the Court costs of the … [Read more...]

Stop negative equity in Spain

There are hundreds of buyers with negative equity in Spain as they were granted huge mortgages during the real estate/ financial boom for properties that have suffered a dramatic value loss along the last years. Once the bubble burst and many property buyers were over debiting, Spain Government … [Read more...]

Floor Clauses – Supreme Court confirms refund of ALL overpaid interest

Following the Sentence issued by the European Court of Justice in December 2016 regarding the retroactive effect of nullity of abusive Floor clauses (Cláusula Suelo), Spain’s Supreme Court has now ordered Spanish banks to refund their clients all the money they over-paid due to the Floor Clauses. … [Read more...]

Questions and answers on extrajudicial (out of court) procedure for the return of overpaid interest due to floor clauses in Spanish Mortgages

How to claim a refund of overpaid interest due to floor clauses in Spanish Mortgages These steps need to be followed:1.- Claim to your bank office/branch 2.- The bank must send to the consumer the calculation of the amount to be returned, including interest or, where appropriate, the … [Read more...]

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