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«CLÁUSULA SUELO» – Minimum interest guarantee clause and Spanish mortgages.
We advise and legally enforce your indemnity claims vis-á-vis Spanish banks and financial institutions with respect to the Spanish Supreme Court decision on the invalidity of so called «Cláusula Suelo» or minimum interest guarantee clauses in Spanish mortgages.
Should you be affected by said minimum interest guarantee, we will be pleased to assist you and legally advise you on how to defend your rights and legally enforce your repayment claims. We are experienced in defending invalidity claims in court and the subsequent enforcement of repayment claims on overpaid interest.
Am I entitled to claim repayment of paid interest?
Entitled to repayment are all bank customers that signed a mortgage including a minimum interest guarantee clause while not being duly and comprehensively informed on such clause by the bank at the time of negotiating and signing the mortgage.
Why may I be entitled to repayment? On May 9th, 2013, the Spanish Supreme Court ruled the invalidity of minimum interest guarantees in bank mortgages («Cláusula Suelo») if the customer was not duly informed at the time of signing and if the common transparency standards were not respected and met.
The fact that customers benefited for a “certain period of time” from the minimum interest clause due to the drop of Euribor rates does not prevent legal actions.
Customers entitled to enforce repayment claims signed mortgages without receiving prior information on said clause by their bank nor were they advised on the economic impact of the minimum interest guarantee clauses.
Some Spanish banks have decided to stop applying respective minimum interest guarantees. However, there remain Spanish banks and financial institutions that continue enforcing the «Cláusula Suelo» and require their clients to take legal actions and legally enforce their rights.