Erardo Ferrer of Lanzarote Abogados tells us about two real case histories that show that it still makes sense to review any mortgage taken out between 2000 and 2018. Names have been changed to preserve client confidentiality.
Mr. Brown had no notion that making a claim against the bank could have good results. However, one day after reading Gazette Life, he decided to call us to review his mortgage, which he signed in September 2004 with the Banco Popular (today Banco Santander).
As it turned out, we discovered that a floor clause had been included in his mortgage that made it impossible for him to benefit from lower interest rates, while at the same time penalising him if interest rates rose.
We also discovered that Banco Popular was applying a different interest rate to the one that had been sold to him. After going to court against the bank, we managed to win a repayment for Mr Brown of more than €20,000 euros and his monthly mortgage payments were reduced considerably.
Mr. Green also did not believe that it was possible to make a claim against his bank, because his mortgage had been signed with Banco Sabadell in 2007 and he had sold his house in 2018. Fortunately, after reading our ad in the Gazette Life, he decided to call us to review his case.
Once again, we discovered that the bank had been applying a floor clause to him during all the years of his loan. At first, Mr. Green tried to come to an amicable arrangement with the bank, but they told him that he could never get a refund because the house was not his only property and he had once rented his property out as a holiday home.
However, we took his case on and obtained a refund for him of a very considerable amount, greater than €10,000 euros.
Nobody likes throwing money away, and nobody likes being taken advantage of by bank clauses that have been ruled as abusive at the highest level. It makes perfect sense to fight for what is rightfully yours, especially against institutions that have been repeatedly ruled to be operating abusive clauses. If you had, or still have, a mortgage signed between 2000 and 2018, we are almost sure that you can claim.
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