Clausula Suelo. The Spanish banks equivalent of PPI?

[Guanche]

Well most of the paper work is done. It would seem that they owe me about €1500 for the 'Clausa Suelo' The next step is to make a denuncia with some industrial dept in Santa Cruz, or some dept or other. Then wait.
There is a twist though, while the accountant went through the statements he found that the Bank had over charged us to the tune of €800 on excess intrest payments! He said that its best to tell the bank to knock this amount off the mortgage as they will fight tooth and nail not pay it, it will slow the claim down and take forever.
We should be taking the paperwork in some time this week.

[Janet]

yes, would agree with that. The excess interest was on mortgage payments direct, and not related to any given clause in the mortgage deed itself. The excess interest therefore amounts to a direct overpayment which should be credited by a deduction of a future payment.

Good luck G! Stick it to 'em!! 

[Nova]

Nice one indeed 

[Guanche]

Well got a letter from the BBVA and guess what, they don't agree with the courts so their not paying!
Oh! by the way, Spain is run by a shower of corrupt thieving bastards aided and financed by a shower of corrupt thieving bastards.

Watch this space

[Janet]

Yes, agreed. How can they "disagree" with the Courts? The thieving bastards!

[Guanche]

The wife's been to see our adviser today. He expected this letter saying its their standard reply. No problem the next step is to make a complaint to some government dept in Santa Cruz next week.
There was a TV news item on it while we were in France. Basically the Banks don't have a leg to stand on but they will try it on! The TV program told everyone who has been fobbed off to make a complaint to this Government Dept. Sorry wifes out and I can't remember the name of the dept she told me. By all accounts there have been thousands lodged already. So again watch this space

[Janet]

Not a good result ...



A Court has ruled that a bank must eliminate its clausulas suelos ... but will not make the judgment retroactive, so the bank does not have to repay monies overcharged under the illegal clause ...

[Guanche]

Well the dream was good while it lasted. Thieves stealing money get caught and in true Spanish style get away with it with the aid of the courts. Half of me knew this was going to be the result.

[Marion]

My mortgage has been cheaper the past two months. Could this be why?

[Janet]

I suppose it's possible, or it could be an annual revision where your Euribor-related rate of interest has gone down ... is it an anniversary of  buying the apartment??