Do you know how to claim the ground clauses?
Despite being considered legal at the time, the Court of Justice of the European Union has decided to annul those considered abusive (due to the lack of transparency of financial institutions). This, in figures, translates into a return to those affected of more than 4000 million euros by the bank.
If you don’t know how to claim the ground clauses, be sure to read the following article.
To claim the clauses I usually check your mortgage and check if it includes them
The ground clauses are associated with variable rate mortgages. This clause was responsible for setting a ceiling below which interest could not be reduced at any time. This meant that millions of Spaniards saw how their letters became more expensive when the Euribor rose but they practically registered no drops when it began to decrease.
Some of the formulas in which the ground clauses within the mortgages are reflected are the following.
- “Limitation clause to the variability of the interest rate”
- “In any case the interest rate will never be less than …”
There is no deadline for your claim
According to the provision of the CJEU, the return of the ground clauses can be claimed since the mortgage contract begins to be applied. However, the usual thing is that the ground clauses begin to apply a little later. This is the case because mortgages usually include fixed interest rates during the first 6 and 12 months.
Should we claim the ground clauses in all cases?
The most convenient is to always claim them. Although as dictated by the CJEU, only those that are abusive or lack transparency will be returned, according to experts, most of the clauses of this type that were written in our country meet these requirements. What is clear is that the bank, motu proprio, will not decide to return any amount. That is why it is always important to claim them.
The first step is to file an extrajudicial claim
So is. The first thing we must do to claim the floor clauses of our mortgage is to present an extrajudicial claim to our financial institution. It is a document in which it is claimed that said clause be considered void within our mortgage and that the amounts charged in this concept be returned.
If the bank has not responded to your request within ten days, it is time to file a lawsuit. To file both claims you only need to have the following documents.
- Photocopy of the deeds
- Copies of the last mortgage receipts
You can also claim the interests that have led to this clause. In practice, the truth is that they are usually returned only when brought to trial and the bank is ordered to pay.
How much money can I recover by claiming the ground clauses?
The amount you can recover will depend on many different factors in the wording of your mortgage. According to the lawyer of the law firm , the average so far used to range between € 10,000 – € 15,000 in an average mortgage. The amounts will be greater from now on thanks to the CJEU ruling to eliminate retroactivity.