Give our Lawyers the possibility to represent you in the opening in your name of a bank account in a Spanish bank of reference without lifting a finger. Opening bank accounts in Spain canoe frustrating and time consuming and at times, require a lot of queuing in different places. Ron Crooke Lawyers will open your bank account on your behalf through a Power of Attorney in Spain. It can be signed in Spain, but also in  the offices of a notary  in your  home country. It contains prior provisions to protect you. It is the client who chooses when it comes into force and which powers/authorities to grant.

Set Up

Our experienced team of independent lawyers can help you get the best deal for a Spanish Mortgage with 100% transparency. In most cases, Real estate agents will offer you their services to find a Spanish mortgage but unfortunately, most of the times they will be receiving a commission from the bank for their efforts. We know that being a foreigner usually means that you are unlikely to know which banks offer the best rates and deals. Let us help you.

Cancellation

When it comes the time to sell your property, you will need to cancel your mortgage but  the banks will unfortunately not be as helpful as they were when you set it up. Bank’s staff do not assist their customers preparing the deeds of the mortgage cancelation, filling the tax declaration, and registering the cancelation in the land registry. Basically, they leave the client to organise this, and, save particulars exceptions, they do not collaborate with their clients. Ron Crooke Lawyers team can effectively guide you through this process.

Since the Supreme Court ruling STS 705/2015 of 23 of December, mortgage-related expenses can be claimed as they have been declared as abusive. As a consumer, you can claim fees which you paid at the time of formalizing the mortgage such as the “gestoría”, appraisal, notary… Additionally, consumers can recover cumulative interest from the day the mortgage was signed. Even if your mortgage is already cancelled, you can still claim the incurred expenses. Ron Crooke lawyers will carry out a study of your case and check exactly which expenses you can claim on and proceed to take the bank claim to court if the Bank does not agree to refund them.  Consumers can claim not only all the expenses, but also the accumulated interest.

Over the last 10 years, we have managed to recover hundreds of thousands of euros unlawfully and unfairly overcharged to our clients when they set up their mortgages. If your mortgage agreement has a minimum rate clause you are entitled to a reimbursement. Our team of specialised solicitors will address a claim to the bank on your behalf in order to attempt to eliminate the Floor Clause provided in your mortgage loan and also recover any interest you have paid improperly since the loan was granted.

Does my mortgage have a “Floor Clause”?

If you signed a variable rate mortgage between 2004 and 2012 with a Spanish bank your chances of being one of those affected by a Floor Clause are very high. If the installments  you are paying for your loans have not fallen in recent years despite the drop of the Euribor, the answer is easy: you are overpaying and thus entitled to a return of the amounts paid from the moment the clause began to affect the loan.

How much am I entitled to claim?

on the 21st of December 2016, you have the right to be handed back all the money the bank has overcharged you, not since May 2013, but since the moment your floor clause came into effect. Therefore, the retroactivity is absolute.

According to a Sentence by the Court of Justice of the European Union of 21st of December 2016, you have the right to be handed back all the money the bank has overcharged you since the start of the loan; the moment in which your floor clause came into effect. However, banks are under no obligation to refund the amounts overcharged and it is generally required to take legal action against them to ensure the refund is given and the correct amount return plus interest of 4% to 6% as compensation to the injured party.

If you have been approached by your mortgage company offering you a reduction in your interest rate to 2% or above, then you could still reclaim the previous overcharges that have been levied against you.

Chances of a successful outcome are very close to 100% but each case must be studied closely and we would welcome any enquires and will advise accordingly with no financial obligation from the client.

Our Law firm has a wide experience assisting and representing clients in their mortgage executions, public auctions and bank repossessions. Defaulting on a Spanish mortgage is a serious matter as the debt will be against you personally and not against the asset itself.  Ron Crooke Lawyers will negotiate with your lender to  find the best solution for you.