• Make a Donation
  • Ask For Advice

Many Still Not Aware of the Clausula Suelo (Abusive Floor Clause) in Their Mortgage Contracts

Update on the final ruling to banks expected from the European Court of Justin expected at the latter part of this year. The European Advocate General has agreed with the Madrid Supreme Court ruling that banks should only have to make repayments on the monies taken monthly due to the clause from May 2013. His decision is not final but a recommendation to the ECJ. Those who believe they may have a claim, should consider taking action now.

The aim for those affected by clausula suelo is to ensure that the bank removes the clause and refunds the excess paid on the mortgage repayments. Litigation is expensive so a couple of law firms who support us will consider taking on your case on a ‘no fees up front’ and on a ‘no win no fee’ basis. Agreements and terms should be discussed with the lawyers directly.

The abusive clause has been added to mortgage contracts by over forty Spanish banks.
It is advisable that you do not sign any agreements the bank may approach you with. You are likely to be given up your rights to make a claim if you do this. Some banks are also trying to tie the clausula suelo clients into a fixed term mortgage which may not be the right solution.

If you wish to check yourself, here are a few examples of how this clause is written into a contract:e

…el tipo de interés ordinario resultante de lo anteriormente pactado no podrá ser nunca inferior a X ENTEROS POR CIENTO ANUAL (X,00%)…
…se fija el tipo de interés máximo en el XX% nominal anual y el tipo de interés mínimo en el X% nominal anual…
…cualquiera que fuere lo que resultare de la revisión del tipo de interés, el tipo aplicable de interés ordinario, así como el sustitutivo, en ningún caso será superior al XX,00% ni inferior al X%…
…Sin perjuicio de lo indicado anteriormente, el tipo de interés aplicable en cada periodo no podrá ser inferior al X% nominal anual ni superar el XX% nominal anual.

To define if you meet the criteria as a victim of the aforementioned floor clause, please forward the name of your town/region and a contact telephone number and the name of your bank. Our lawyers will assist you or check your mortgage deed (escritura de hipoteca) to see if you have the clause

For further information from a lawyer, please email myra@citizensadvice.org.es


Please note: The information provided is based upon our understanding of current legislation. It is not legal advice but is provided freely to enable you to be properly informed. We recommend that if you are considering taking action, you should seek professional advice.

How Can Citizens Advice Bureau Spain Benefit You?

As an expatriate living in Spain; do you find that the Spanish bureaucratic system can be disconcerting? Have you discovered that the simplest of transactions are difficult to conclude? Find yourself searching for answers to problems only to discover that there is nowhere where you could find a solution? I am assuming that the answer is yes and that is why should be a member of our web site if you arent already.
citizens advice spain


We use our own and third-party cookies to prepare statistical information through the analysis of your browsing, in accordance with our cookies policy. If you continue browsing, you accept its use.
view CAB cookie policy

Utilizamos cookies propias y de terceros para elaborar información estadística y mostrarte publicidad personalizada a través del análisis de tu navegación, conforme nuestra política de cookies. Si continúas navegando, aceptas su uso.
ver política de cookies de CAB

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.