The “Floor Clause” is increasingly the goal in reducing mortgages that years ago were signed. Although it is true that its elimination is not very difficult (depending on each case), the recovery of fees paid in its concept, is.
Well, for disposal first of all is to ensure that the mortgage in question has soil clause because not all have. This requires reading scriptures of mortgage loan (not the writings of housing). If you have such a clause, you would have to go to the bank and communicate the intention to eliminate it. Usually the bank will not give in to this request, so the next step would be either presenting a complaint to the bank’s customer service department, which must be certified and well-argued or what is most recommended , rather finding a lawyer to help you in this tedious confrontation with the bank, as the argument to use is critical for success. The most common arguments are lack of reciprocity and, especially, lack of transparency, since the Supreme Court in its judgment of May 9th, 2013 establishes strict premises in order to ensure real transparency, premises that the vast majority of banks do not fulfill with the mortgage that for years have been signed, at least until 2012.
If the service customer decides to reject the claim, the next step would be the courts or the claim against the Bank of Spain, although at this point it is advisable to opt directly through the courts, as banks are ignoring reports issued by this institution.
Having gained the elimination of such clause or, while the claim, we can also seek for the recovery of sums wrongly paid in its concept. It is true that in this case there is a much lower probability of success, as the Supreme Court paved the way for the annulment of the soils clauses but at the time, hindered the right of consumers regarding the refund of amounts paid over the life of the beforementioned. Regarding this, the TS was based on the horrible economic consequences that would entail the disbursement of indigent amounts of money, thus affecting public order. Still some of the Judgments Courts of 1st instance are in favor of consumers reintegrating what was overpaid, but these sentences are actionable by banks.
In any case, if it is desired to recover at least part of these fees, it is advisable to send a fax to the bank or present a written document to be sealed at the time of submitting the application for the removal of the floor clause in order to stop applying it from the next due. Surely the bank will ignore, but when there is a favourable judgment regarding the disposal, it will be easier to recover the overpaid fees, at least from the date of that fax or document issue.
If you are one of those affected by these unfair terms do not hesitate to contact us at DAEMI ZABALZA & ASSOCIATES, we have specialists who can advise you about your particular case and expose your chances.