Help & Downloads2017-10-04T13:43:51+00:00

Help & Downloads Section

Here you will find a selection of documents which you can download that should help you with various aspects of making claims against banks in Spain. You will also find some general questions and answers

Documents Explained

Which documents do we need to effectively check for a floor clause and calculate your claim? In nearly all cases we will need a copy of the deed, and then something called a ‘cuadro’ for the calculations. Click the image to view the full document

Guide & Next Steps

What is a floor clause? is it legal? how to submit a claim… If you have a floor clause question, this document should answer any of your questions. If not the Rapido support team are on hand, please give us a call on +34 95140 24 30 or +44 207 866 2128

Some helpful articles…

Power of Attorney Explained

May 19th, 2017|Comments Off on 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 [...]

Submitted a claim on your own? – The reality and facts

May 11th, 2017|Comments Off on Submitted a claim on your own? – The reality and facts

The Law On January 21st 2017 the Spanish government issued a Royal Decree due to the European Court of Justice (ECJ) Ruling on the 21st December 2016, relating to Clausula Suelo (Floor Clause) Claims [...]

Q&A Section…

What is a ‘Clausula Suelo’?

We have explained in more detail what a ‘clausula suelo’ is here, but in summary, 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.

Have interest floor clauses been declared illegal by the Supreme Court?

This is not quite the case. The Supreme Court has actually declared that such floor clauses are initially legal, but that they must comply with various requirements, including that the consumer has the clause clearly explained to them, as is the case with PPI in the United Kingdom. A clause that fails to comply with such requirements can be considered abusive.

If you think that you have a ‘clausula suelo’ in your mortgage contract but are unsure what you could be entitled to as a result, simply get in touch now with Rapido Claims’ bank claims experts, who will be able to provide you with informed, impartial advice.

How can I tell whether there is a ‘clausula suelo’ in my mortgage contract?

The most obvious sign that your mortgage contract has a ‘clausula suelo’ is that the interest rate applicable to your loan has fallen, but the rate you are actually paying has not changed.

Why should I make a claim at all?

There are two benefits to making a claim with Rapido Claims. Firstly, you will be able to get your interest floor clause cancelled, which will lower your monthly mortgage fee going forward. Secondly, you will be able to recover the money that was wrongly paid to your bank as a result of the clause.

Will I definitely get both the clause removed and compensation?

If your claim is made correctly then you will receive compensation as well as the removal of the clause and reduction in all future mortgage payments.

If the clause has already been removed, can I make a claim just for compensation?

Yes of course. Some banks automatically removed the clause in 2013 when the Spanish Supreme Court first classed the clause abusive. However if you also signed a document to waive your right to claim then the claim will likely have to be processed through the courts rather than extra judicial.

How do I start my claim?

Simply contact the Rapido Claims team now to get started! Whether you are still paying a higher rate on your mortgage than you should be doing or the clause has been removed from your mortgage but the bank hasn’t yet given you back the money they wrongly charged you, we can help. We will look at your case and advise you on what to do next, completely free of charge. Read more about the claims process here at Rapido Claims.

What if the bank proposes a deal to me?

If you approach your bank about your ‘clausula suelo’ independently, they may offer to remove it on the condition that you take out another product with them, such as insurance; this is unacceptable given that any saving you make from the removal of the clause will simply be reabsorbed by the cost of the other product.

Alternatively, your bank may claim that the clause is legal and refuse to remove it. In this case, you will have no choice but to carry out court proceedings if you wish to remove the clause and claim compensation. In truth, you can only be 100% sure of being given a fair deal – including adequate compensation – when you make a claim directly through the courts.

If the bank has already proposed an agreement to you relating to your ‘clausula suelo’, get in touch with us first! We’ll give you impartial advice on whether you should accept their deal or instead pursue a better one through the courts.

Does it cost anything to check if I have the clause?

NO. There is no cost or fee to check your contract for the clausula suelo or floor clause. If you do not have your mortgage contract then we can still begin a claim with the bank.

What are the fees for a successful claim?

Our fees are the lowest in the industry at 15% of the final claim amount with a €199 admin fee. Most legal firms charge between 20% – 30% and most will ask for a a provision of funds to cover power of attorney and a procurador (Spanish prosecutor) neither of which are needed to complete an extra judicial claim which is how your floor clause claim should be handled in the first instance. Should the bank refuse to pay through the extra judicial process, then our legal team will begin a judicial claim.

Start your claim today Remove the floor clause

Don’t hesitate to contact us about our simple, fast Spanish bank claims. Our friendly and professional team is ready and waiting for your enquiry and can immediately get working on your case