Abusive clauses

After Judgement of 21 December 2016 of Court of Justice of the European Union (CJEU), consumers affected by the application of ‘floor clauses’ are entitled to claim the repayment of the sums unduly paid to the financial institutions from the date on which the floor clauses in their loan agreements were applied.

The aforementioned judgment opens the way to claim ALL the amounts overpaid by the application of a floor abusive clause included in mortgage loan contracts, without temporal limitations on the effects of the invalidity of those clauses.

If you have a floor clause in your mortgage or other unfair terms or you want to know if your loan is affected by them, contact us.

We will help you to claim and win!

GROUND CLAUSES

After Judgement of 21 December 2016 of Court of Justice of the European Union (CJEU), consumers affected by the application of ‘floor clauses’ are entitled to claim the repayment of the sums unduly paid to the financial institutions from the date on which the floor clauses in their loan agreements were applied.

The aforementioned judgment opens the way to claim ALL the amounts overpaid by the application of a floor abusive clause included in mortgage loan contracts, without temporal limitations on the effects of the invalidity of those clauses.

If you have a floor clause in your mortgage or other unfair terms or you want to know if your loan is affected by them, contact us.

We will help you to claim and win!

MORTGAGE COSTS

One of the news which has been echoed these days through the mass media, and the public in general, is that Spanish courts are beginning to dictate sentences that, following the statement made by the Supreme Court (TS) in its judgment of 23 December 2015, states that a clause of a mortgage loan which imposes on the consumer the payment of charges, taxes and commissions arising from the constitution of this loan is abusive and, therefore, void, thus condemning the Bank to your refund. This is great news for many consumers because this clause, drafted in a way or another, figures in almost all the deeds of mortgage loans signed in the last few years in Spain.

If you signed a mortgage loan and paid all the expenses arising from it, you may claim your refund from your bank. VMG offers counseling and legal assistance from the beginning of the claim, in out-of-court, as well as in case of filing of demand. Do not hesitate to contact with us.

IRPH

Once the Court of Justice of the EU (CJEU) has ruled on the retroactivity of the ground clauses and their invalidity has been confirmed in the judgment of 21 December 2016, some questions arise in relation to those affected by the IRPH.

IRPH is calculated according to the types TAE that entities charge customers during the current month: each entity refers to the Banco de España (BDE) a weighted average of these TAE rates charged to its customers and BDE performs a simple mean to develop the IRPH. Therefore, it is an average of commissions, expenses, interest rates and ground clauses which are paid by all mortgaged people. I.e., those affected are paying commissions by duplicate and the ground clauses already void.

Therefore, if the IRPH is calculated on data that have already been considered abusive such as those based on ground clause, the logical consequence is IRPH may be void as well.

If you have an IRPH on your mortgage loan, contact us for the purpose of asserting your rights.