Lawyer of Services to Individuals in Axarquía
Lawyer Specialising in Bank Claims
Nowadays, after numerous legislative changes and condemnatory sentences for the banks, with the introduction of the Real Estate Credit Law, their activity is much more controlled, making it more difficult for abuses to occur nowadays, which nevertheless do occur.
But from the late 1990s until very recently, the situation has been very different. It can be said that practically all the people who bought a house in those years signed mortgage deeds that contained abusive clauses. It has been the passing of the years and consumer complaints in the courts that have led the courts to declare them abusive.
If a judge declares that a clause imposed on a consumer is abusive or non-transparent, this implies its nullity and, therefore, the matter should be left as if the clause had never existed, and the bank should return to the client the amounts that he/she had paid in application of the clause.
The banking products on which the bulk of complaints are currently focused are as follows:
In the wake of the real estate boom, almost every Spanish family was able to buy a home with a mortgage loan. Owning your own home is perhaps the most widely used form of savings in this country, compared to others. In general, a series of clauses were introduced in contracts by all banks, which the courts have declared null and void over the years, and others whose validity continues to be disputed.
- Floor clause: Through its application, a variable loan became practically a fixed loan, as the interest rate we would pay would never fall below a certain level.
- Clause attributing all costs to the customer.
- Early maturity clause for non-payment
- Disproportionate interest on arrears clause
- Claim for debtors' commission clause.
- Clause imposing the payment of stamp duty on the client for introducing a guarantor in the loan.
- And many others that have been discussed, and continue to be discussed.
Depending on our case, we may only be able to claim a few hundred euros for the application of such conditions. But in many others, we can talk about significant amounts of several thousand euros.
Recently, and with the support of the Law for the Prevention of Usury and consumer and user protection regulations, the courts have begun to annul certain loans, known as revolving loans, in those cases in which excessive interest rates have been set or which could be considered usurious. These cards, which are usually provided quickly and without checking the customer's creditworthiness, allow the payment of a fixed amount per month. The problem is that this amount is not enough to cover the money borrowed and the interest, so the debt will continue to grow. Most customers do not understand how it works and, by the time they realise it, they can owe more than double the money they have borrowed, between interest and fees.
Montosa Abogado is an expert in Banking and Consumer Law. The practice over the years allows us to review quickly, effectively and at no cost to the client, their loan contracts or deeds and other bank documentation, informing them of the possibilities of initiating a formal claim in their case and the amount that they would be entitled to claim.
In the event that the circumstances of the case make it advisable to make a claim, we take charge of managing the out-of-court claim with the bank itself, as well as the subsequent judicial process, where we have an effectiveness of practically 100% in terms of judgements won. This is possible only because our knowledge of the subject matter allows us to select and bring to trial only those cases that are most likely to succeed.