Compensation for your Bankia floor clause can be easily obtained

Compensation for your Bankia floor clause can be easily obtained

It is difficult to underestimate the sheer notoriety that the ‘clausula suelo’ has gained among Spanish mortgage holders over the last few years. It is a clause that has been inserted into many loan agreements by Spanish banks, including – although by no means restricted to – the partially nationalised Bankia.

It’s easier than you think to secure compensation

If you have a Spanish mortgage with an interest rate supposedly pegged to the Euribor – which you might have noticed has reached record lows in recent years – but have not seen the benefit in the form of lower loan repayments, we may wish to look over your contract for indications of what is known as a land clause, floor clause or clausula suelo.

In the event that there is such a clause in your contract, you may be shocked to learn just how much more you have been paying for your mortgage over a long period of time – the difference could run into thousands of Euros. Here at Rapido Claims, we don’t think this is fair, which explains our commitment to offering the easiest-to-use Bankia bank claims service.

It’s a very simple process to obtain a payout in relation to the abusive Bankia floor clause that you may not have even noticed in your contract until now. Just get in touch with us by filling in and submitting our brief online form, and we’ll determine how much you are likely to be able to claim from Bankia. Then, we can proceed with the processing of the claim for you, if you wish.

In a very short time – possibly as little as 90 days – you should have the money to which you are entitled. So, why hesitate to take advantage of our customer-friendly service and ‘right the wrong’ of that Bankia clausula suelo that is keeping your mortgage payments so high?

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.

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By |2017-05-16T12:39:02+00:00May 10th, 2017|Floor Clause|Comments Off on Compensation for your Bankia floor clause can be easily obtained

About the Author:

Gareth is a bank and mortgage claims expert at Rapido claims and has made a successful claim against the bank on one of his own properties.