# Clausula Suelo



## leedsutdgem (Jun 3, 2010)

Hi guys i just want to get the word out amongst ex pats that anyone who has a minimum interest rate on their mortgage can now try and get this removed and claim back any monies overpaid in interest to the banks. Basically, if you have a variable mortgage and it hasnt gone down in the last 4 years then you more than likely have this. The high court in spain declared back in may that if the bank did not inform you correctly about having this (99% of mortgages do not comply) then you can ask them to remove it.


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## Pesky Wesky (May 10, 2009)

leedsutdgem said:


> Hi guys i just want to get the word out amongst ex pats that anyone who has a minimum interest rate on their mortgage can now try and get this removed and claim back any monies overpaid in interest to the banks. Basically, if you have a variable mortgage and it hasnt gone down in the last 4 years then you more than likely have this. The high court in spain declared back in may that if the bank did not inform you correctly about having this (99% of mortgages do not comply) then you can ask them to remove it.


Fortunately I don't have a mortgage, but this info deserves to get a
:bump2::bump:


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## cerrillo (Nov 10, 2012)

Hi my sister has a small mortgage with Cajamar bank, that was affected by Clausula Suelo. When I realised this I contacted her bank over a year ago and at that time they basically said its in the mortgage deed so tough. However after the court hearing in Seville in May the bank then adjusted her mortgage rate downwards, without being asked, and that took effect from May this year. As far as I am aware the Clausula Suelo was declared null and void but they were not obliged to repay any overpayment of interest for previous years. My sister's mortgage is now whatever the euribor is 0.55 or something plus 1.4, so about 1.95, instead of the minimum of 3.25. I could be wrong but I think there were only about 4 banks or so that were taken to court in Seville, Cajamar being one of them. Worth checking out though.


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## leedsutdgem (Jun 3, 2010)

cerrillo said:


> Hi my sister has a small mortgage with Cajamar bank, that was affected by Clausula Suelo. When I realised this I contacted her bank over a year ago and at that time they basically said its in the mortgage deed so tough. However after the court hearing in Seville in May the bank then adjusted her mortgage rate downwards, without being asked, and that took effect from May this year. As far as I am aware the Clausula Suelo was declared null and void but they were not obliged to repay any overpayment of interest for previous years. My sister's mortgage is now whatever the euribor is 0.55 or something plus 1.4, so about 1.95, instead of the minimum of 3.25. I could be wrong but I think there were only about 4 banks or so that were taken to court in Seville, Cajamar being one of them. Worth checking out though.


Hiya, yes the sentence back in May condemned Ncg, bbva and Cajamar so this was why her payments have gone down. It also said that clients from these banks could not reclaim any monies overpaid- absolute disgrace! If its null and void then for me they should give back the money.
Anyway, what this sentence has done is allow people affected with other banks to try and get this removed and claim money back. Its worth checking to see if you have one. In my case we have paid over 10k to Unicaja in interest since the euribor started going down


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## el romeral (May 8, 2012)

We pay 3.45% interest on our mortgage with Banco Pastor.

60% of our monthly repayment is interest.


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## leedsutdgem (Jun 3, 2010)

Its an absolute disgrace. Our payments are 200€ over what they should be. I have private messaged you.


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## cerrillo (Nov 10, 2012)

Luckily my sister only has a very small mortgage - if you are paying that amount you must have a very large mortgage! I dont have one at all thankfully.


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## el romeral (May 8, 2012)

leedsutdgem said:


> Its an absolute disgrace. Our payments are 200€ over what they should be. I have private messaged you.


Thanks, message replied to, with interest


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