How We Can Help You
- Offshore Banking & Investment Account
- Cláusula Suelo - Mortgage Compensation
- International Pension Transfer Advice
The “Cláusula Suelo” (Floor Clause literally translated) was a means by which Spanish financial institutions continued to charge a higher rate of interest than would otherwise apply if they were to follow the Euribor Rate.
On the 9th of May 2013, the Spanish Supreme Court issued a ruling which in effect said that ‘such contracts lack clarity and transparency’ and that the clauses were hidden deep in an ‘overwhelming amount of data’ saying that although not ‘illegal’, the practice is ‘immoral’.
Need A Quote For Your Insurance Then Ask Us