Spanish bank claims are easier to make than you may think
It’s easy to be intimidated by the thought of making a claim for bank compensation in Spain.
Sure, you may be a Spanish mortgage payer already and may be concerned about persistently high monthly fees on a mortgage supposedly tracking an interest rate such as the Euribor, which has been quite low recently.
However, it’s still quite a big step to actually seek compensation from a Spanish bank such as BBVA, Banco Sabadell or Banca March. You may be concerned about the process being long, risky or expensive – but here at Rapido Claims, we are pleased to declare that it is none of these things.
Who are we here at Rapido Claims?
Rapido Claims is based in San Pedro, Malaga and provides an English speaking service to those looking to remove the floor clause from their Spanish mortgage contract.
We believe that if you have taken out a mortgage with a Spanish bank, you deserve to be able to benefit from the record low interest rates since the 2008 financial crash, rather than be forced to pay high interest due to the existence of a ‘clausula suelo’ in your contract.
This is why we have designed our clausula suelo claims process to be as quick and straightforward as possible. Simply complete our short online form with your details, including your name, email address and mortgage lender, and we will get in touch with you to begin processing your claim.
Clausa suelo claims are made easy with us
Breakthroughs continue to be made in the fight against these prohibitive mortgage clauses. In May 2013, the Supreme Court ruled that some of the clauses could be considered abusive when lacking in transparency, which prompted many banks to remove floor clauses from their mortgages completely.
Fast-forward to April 2016, and more customers were celebrating after a Madrid commercial court’s judgement that millions of mortgages containing a clausula suelo were null and void.
Today, many homeowners in Spain are taking the opportunity to not only remove their clausa suelo, but also secure potentially thousands of Euros in compensation in relation to the period – often many years – for which they were overcharged.
Enquire now about how you can secure mortgage compensation in Spain in a swift, hassle-free manner with the assistance of our seasoned and capable floor clause claims specialists here at Rapido Claims.
What is a Clausula Suelo or Floor Clause?
It is a clause in a Spanish tracker mortgage agreement that requires you to pay a minimum interest rate, even when the interest rate that the mortgage is tracking – such as the Euribor – is lower.
This means that you could be paying thousands of Euros more than you should be, and the Supreme Court has agreed that many such clauses can be considered abusive.