Overpaid instalments
100% reclaimable
You recover the difference between what you paid each month with the floor in place and what you would have paid at the real Euribor rate, from the signing of the mortgage until today.
If your Spanish mortgage has a clause that prevents the interest rate from dropping below 2%, 3% or 4% when Euribor does, you have been paying an artificially high instalment for years. European case law obliges the bank to refund in full everything overcharged from day one.
When the clause is declared void for lack of transparency, the bank refunds everything overcharged, recalculates your mortgage as if the floor had never existed, and your monthly instalment drops.
You recover the difference between what you paid each month with the floor in place and what you would have paid at the real Euribor rate, from the signing of the mortgage until today.
On every amount overcharged, the bank must pay statutory interest from the date of each instalment. It usually adds between 15% and 25% to the refund.
When the loan is recalculated without the floor clause, part of what you paid as interest was actually paying down capital — your outstanding debt drops substantially.
For all remaining instalments, the interest is applied at real Euribor plus the agreed spread, with no floor. Your monthly instalment drops for the rest of the mortgage.
If we have to sue and win, the bank pays the costs of the proceedings. Costs awards in floor-clause cases are practically automatic under CJEU doctrine.
Following the CJEU judgment of December 2016, the bank must refund everything overcharged from the signing of the mortgage, with no time limitation as previously applied by the Supreme Court.
Ask us for a free case review and we will get back to you in less than 24 hours.
Enter your mortgage basics and we estimate a realistic recovery figure. For the exact calculation we need the amortisation schedule.
Leave us your details and a lawyer from the firm will personally review your deed and amortisation schedule. In less than 24 hours you will receive a report with the legal viability of the claim, the estimated amount and next steps.
Floor-clause doctrine has been settled since 2013, broadened by the CJEU in 2016 and refined by the Spanish Supreme Court in subsequent years. These are the three key rulings.
The Plenary of the Spanish Supreme Court declares floor clauses abusive when added to the mortgage without the required transparency. The start of the doctrine.
The Court of Justice of the European Union removes the Spanish Supreme Court time limit and requires the bank to refund everything overcharged from the signing of the mortgage.
The CJEU allows reopening floor-clause claims where the old Supreme Court time limit had previously been applied, widening the claim window.