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Pellicer & Heredia

Mortgage Floor Clause? Recover your money back since the mortgage started

Mortgage-Floor-Clause The European Union Court of Justice ruling has ruled in favour of the thousands of people affected by the “ground” or “floor” clause in their mortgage deeds.

From now on people can claim the return of the whole amount owed from the beginning of the loan. The EU Court has created the opportunity for all affected consumers get back the amounts overpaid due to an abusive clause being imposed over the last two decades in Spain. This will initiate a judicial procedure with a lawyer specializing in banking and financial law to request the court to declare null and void the mortgage clause and condemn the entity to pay back everything overpaid by the application of said clause in accordance with this new sentence, in addition to request the payment of the procedural costs by the financial institution to the plaintiff.

PELLICER & HEREDIA lawyers are specialists in Banking and Financial Law. They have started a campaign of "TOTAL RETROACTIVITY MORTGAGE FLOOR CLAUSE" where all those affected consumers can register and obtain information to start the procedure to claim all the money paid to banks during the life of the loan, without time limits. Once enrolled, we will carry out a free study, analysis and feasibility of the case, where you can see the total amounts recoverable. We will also check other abusive clauses (mortgage formalization expenses) that your mortgage may have and the procedures to be performed in order to recover the amounts over paid when signing the mortgage deeds.

What do I have to do to get the money I overpaid back as well?

  • It is important to know that banks are not required to repay the money, so in order to recover the interest it is imperative to go to an attorney.
  • In order to recover the overpaid interest, a legal claim must be filed that includes:
  1. Nullity of the ground clause.
  2. Calculation and return of amounts over paid since signing the mortgage deed.

What other expenses can I recover?

In addition, Pellicer & Heredia will further recover for its customers:
  • Mortgage constitution expenses. (Namely: notary, administration, taxes and appraisal). For a mortgage of € 150,000 that will approximately be € 3,000.
  • The legal interests of all amounts claimed.

Why Claim with Pellicer & Heredia Attorneys?

  • Because we help you get the maximum guaranteed by the law.
  • We are a leading firm representing European residents on the Costa Blanca, with 5 offices in the province of Alicante. We have extensive experience representing consumers, and are specialists in banking and financial law.