Clausula Suelo, the consumer’s victory!

Banks, their reputations have suffered in recent memory. No longer are they seen as trusted institutions, now they are pariahs that prey on everyone, no matter what the cost. We saw it with the Global crash, instigated by banks, Icelandic collapse, the English LIBOR scandal and here in Spain, the Clausula Suelo. Wide-reaching scams that caught clients from every walk of life.

If it wasn’t enough to have been swindled, it’s the sheer audacity of the banks to deny any wrongdoing that infuriates clients. Since 2013, we have known that the Clausula Suelo was wrong, the banks were wrong to implement it and clients were due refunds. It has taken the involvement of Europe’s highest court to finally put pressure on the banks and the government to start paying back the clients who have had to pay out much more for their mortgages than they should have.

In the past month, we at Pennick Blackwell have been happy to see our clients start getting the refunds that have been too long overdue. In the past month, we have claimed back nearly € 150,000 for our clients and that is only scratching the surface of this horrid situation. That works out to an average of € 10,000 per client who we have been able to help so far, and more is on the way.

Courts Workload

The courts are working on cases that have not been agreed to by banks. There are no more continuances or loopholes for the banks to exploit. Using a company like Pennick Blackwell, you can be sure that you get the best offer on your mortgage claim against the bank, including interest on the money due back! The banks won’t give interest on your savings but you can claim interest on your own money, taken without cause or reason.

Many of the leading banks in the country are now looking at the Clausula Suelo situation properly and are dealing with the damage it has caused to you, the client. We are delighted to see that offers are coming in but we still have work to do and patience to ask. Some banks are still denying the case, some are giving lesser offers, and we will deal with each as we need to, for now, we wish to rejoice with those clients that have had their reward and remind those waiting, it is coming, and the tide is turning.

YOUR questions, OUR answers

If you have any questions, concerns or issues that you feel need to be addressed, please do not hesitate to contact us for a free reply. Do you feel cheated by your Spanish Bank? Are you looking for a way to save money, little or large? Is your insurance too much or your investment return too little? A little question can mean a big return!

Prepare with Pennick Blackwell and minimise the risks to your money (and health!)

If you signed a mortgage before 2008 and have not noticed significant decreases in your mortgage payments over the last 6 years you could have fallen victim to this situation and could be due compensation.

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THE FACTS

What you need know about “Cláusula Suelo”.

Mortgages Ruled ‘Immoral’

Most Spanish Banks, in order to limit their liabilities, placed a “Cláusula Suelo” into the vast majority of their mortgages. This clause has been flagged by Spanish Courts as ‘immoral’. This ruling has forced lenders to reduce the cost of repayments and in many cases to pay compensation.

Clear Case for Compensation

There is a clear case for compensation; at the very least there should be a noticeable drop in the monthly mortgage payments. The mortgage holder must first find out if the lender has behaved unethically, then it is relatively straightforward to gain compensation for the defective mortgage.

Onus Placed on Claimant

While financial institutions in Spain have been ruled against in the Courts, for the most part, they are not obligated to act; unless asked to by the person holding the mortgage – the onus is on the individual claimant, firstly to check if they come under this legislation, then to seek compensation.

[button link=”http://www.pennickblackwell.com/clausula-suelo/” type=”big”] Make Your Claim Now[/button]

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