About Gareth Bushell

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.

Power of Attorney Explained

Our Senior Claims Manager Gareth, has answered many questions over the years relating to Power of Attorney. So here are some of his thoughts on the subject. If you wish to make a claim against a company, corporate body or individual, in most cases a lawyer will be required, and bank claims are no exception. Any case that is handled by Rapido Claims requires certain legal processes to take place to ensure that it is managed to the letter of the law, and also so that the banks are aware that we are prepared to take claims all the way to their conclusion. Why do we need power of attorney? We have an in-house legal team headed up by Rocio Castillo who has been dealing with a multitude of bank claims of all types and sizes. If we have power of attorney we can represent [...]

By |2017-05-24T14:41:41+00:00May 19th, 2017|Rulings and Law|Comments Off on Power of Attorney Explained

Brexit hits the Spanish property market – but there’s a potential silver lining

Brexit hits the Spanish property market – but there’s a potential silver lining Much has been stated about both the potential benefits and drawbacks of the UK’s impending departure from the European Union (EU), but if there’s one thing that can be said for it, it’s that it’s not spelt great news for the Spanish property market. Are we seeing a Brexit property crash in Spain? Britons have long been in love with Spanish homes – indeed, according to reports, the number of properties in the country sold to British clients more than doubled between 2012 and 2015. However, that phenomenon was swiftly snuffed out by Brexit, with a mere 2% annual rise recorded for 2016, according to Spain’s land registrars’ association. Whereas Britons had bought 2,864 Spanish properties in the third quarter of 2016, that figure dropped to 2,073 for the last three months of the [...]

By |2017-05-16T12:36:52+00:00May 16th, 2017|Brexit|Comments Off on Brexit hits the Spanish property market – but there’s a potential silver lining

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 [...]

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

CaixaBank braces itself for clausula suelo claims

CaixaBank braces itself for clausula suelo claims A firm indicator of the seriousness with which one of Spain's most widely recognised financial services companies - CaixaBank - takes the floor clause scandal that has been engulfing many of the country's institutions is its confirmation that it has put aside 625 million Euros for the payment of claims. Certainly, many observers would agree that the bank has good reason to take such a stern stance. Even CaixaBank itself has estimated the maximum potential impact of the floor clauses to be around 1,250 million Euros. Whether the latter, rather than former figure proves to be true greatly depends on how forthcoming the bank's customers are with claims for compensation. CaixaBank bank claims are now being processed Many Spanish banks to have put the controversial floor clauses into their borrowers' mortgage agreements have been stung into action by a royal [...]

By |2017-05-10T13:59:28+00:00May 10th, 2017|Uncategorized|Comments Off on CaixaBank braces itself for clausula suelo claims

Borrowers with a Unicaja floor clause urged to act now

Borrowers with a Unicaja floor clause urged to act now You may have heard, whether on our own blog here at Rapido Claims or elsewhere, that one of Spain’s best-known savings banks – Unicaja – has estimated that its accounts for 2016 will be €130 million poorer as a result of the floor clauses scandal. More specifically, the bank has been required to process claims brought by customers in relation to the controversial clauses because of not only a recent ruling by the Court of Justice of the European Union (CJEU), but also a royal decree. So, what does all of this mean for you if you are a homeowner and suspect that you have a Unicaja clausula suelo that has been forcing you to pay more for your loan than you should have been? We’re seasoned experts in Unicaja bank claims The good news is that [...]

By |2017-05-16T12:40:27+00:00May 9th, 2017|Floor Clause|Comments Off on Borrowers with a Unicaja floor clause urged to act now

What’s the latest news for Spanish homeowners with a BBVA clausula suelo?

What’s the latest news for Spanish homeowners with a BBVA clausula suelo? The controversy that has surrounded the ground clauses found in many Spanish mortgage contracts since the mid-2000s property boom has led to various financial institutions in the country facing a hefty compensation bill to pay to their affected borrowers. However, for some of those householders with a BBVA floor clause, matters have been a little bit more complicated. That’s because, despite many Spanish banks having already willingly implemented measures to pay to their customers the amounts that they have been overcharged, BBVA is still in court over the affair. BBVA still waiting for legal clarification More specifically, it has been awaiting the full verdict of the Supreme Court that applies for the first time the retroactivity rule for compensation payouts to affected customers, following the Court of Justice of the European Union (CJEU)’s own recent [...]

By |2017-05-09T13:53:14+00:00May 9th, 2017|Uncategorized|Comments Off on What’s the latest news for Spanish homeowners with a BBVA clausula suelo?

Banco Popular vice president denies that its floor clauses were “abusive” or “fraudulent”

Banco Popular vice president denies that its floor clauses were "abusive" or "fraudulent" Roberto Higuera, the vice president of Banco Popular, has denied that the floor clauses included in the institution's mortgage contracts were "abusive" or "fraudulent", despite the scandal surrounding the clauses that has led to many customers contacting specialists in Banco Popular bank claims. Higuera replied to a shareholder's intervention on the subject at the bank's extraordinary shareholders meeting by declaring: "They were not abusive and were not fraudulent". He added that the floor clauses were "fairly transparent" and there was "nothing illegal" in them, although the bank has nonetheless been forced - in common with other affected Spanish banks - to comply with the ruling on the matter by the Supreme Court. A surge of Banco Popular bank claims Although there have been suggestions of an increased awareness among those who potentially have a [...]

By |2017-06-13T16:16:41+00:00May 9th, 2017|Uncategorized|Comments Off on Banco Popular vice president denies that its floor clauses were “abusive” or “fraudulent”

Even amid Brexit uncertainty, you can still claim compensation for your clausula suelo

If you are a British expat in Spain, you can be forgiven for feeling a little jittery at the current political climate and what it all might mean for you. The UK has voted to leave the European Union (EU), with Prime Minister Theresa May recently fulfilling her promise to activate Article 50 to get the process underway for the country’s exit from the bloc. However, there are still so many unanswered questions in terms of the implications of Brexit for Spain and those with links to both countries. The rights of British expats to remain residents of the EU – including Spain – have not been confirmed, and there have even been hints of fresh wrangles between the two countries over Gibraltar. If Brexit turns out to be a success, could the Spanish electorate even start to contemplate the merits of their own country’s exit? However, [...]

By |2017-05-09T13:12:33+00:00May 9th, 2017|Uncategorized|Comments Off on Even amid Brexit uncertainty, you can still claim compensation for your clausula suelo

What do you need to do to get rid of your Banca March clausula suelo?

You may be one of the many people with a property in Spain who took out a mortgage with Banca March, one of the country’s best-known financial institutions, to pay for it. But were you ripped off by the presence of a clause forcing you to pay potentially many thousands more than you should have done? If so, you may still be suffering the ill effects right now. A short introduction to the infamous ‘floor clause’ Whatever you call it – a ground clause, floor clause, soil clause or simply its Spanish name of ‘clausula suelo’ – there’s no question that it has caused a lot of fuss among homeowners in the country in recent years, but not in a good way. If you took out a mortgage as long ago as before the late 2000s financial crash that had an interest rate supposedly tied to the [...]

By |2017-02-14T15:05:16+00:00Feb 14th, 2017|Floor Clause|Comments Off on What do you need to do to get rid of your Banca March clausula suelo?

Banca March puts aside another €20 million in potential floor clause compensation

There’s some very good news for those with a Banca March clausula suelo – the institution has added a further €20 million to its provisions for 2016 for possible refunds to its borrowers that have had to pay an elevated rate due to the presence of the notorious floor clause in their contracts. The news was reported by the National Securities Market Commission (CNMV), after the Mallorcan bank had informed the regulator of its decision. However, the bank also said that its ground clauses “have not been definitely annulled in general by a final judgement” and considers that it has “legal and procedural arguments” that “should be valued in the remedy that is still being processed.” Nonetheless, Banca March said that it had opted to put the extra money aside “in order to cover the contingency against possible claims”, in light of the publication of the ruling [...]

By |2017-02-14T15:07:27+00:00Feb 14th, 2017|Floor Clause|Comments Off on Banca March puts aside another €20 million in potential floor clause compensation