Have you ever suffered abusive clauses in the mortgage? Who doesn't remember the famous floor clauses? Although it may seem like a lie, in the 21st century there are still financial entities that abuse consumers to increase their income. And even if we now think that such a problem no longer exists, we are always exposed when applying for a mortgage . For that reason, in this article we show you everything you need to know about abusive mortgage clauses and how to know how to identify and combat them. Don't be caught by surprise!
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What are abusive clauses?
Definition of abusive clauses
An abusive mortgage clause is, according to Spanish law, one not negotiated individually with the consumer. As well as those practices not expressly consented to, contrary to good faith and generated by imbalances between the parties.
By law
The law defines abusive mortgage clauses as all those stipulations not Romania Mobile Number List individually negotiated and those practices not expressly consented to that, contrary to the requirements of good faith, generate a significant imbalance in the rights and obligations of the parties arising from the contract. to the detriment of consumers and users. The main regulation that regulates abusive mortgage clauses is Directive 93/13/EC.
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Nullity of the abusive clause
In the event that a mortgage contains abusive clauses, the nullity of a clause can be declared if it has been added with a lack of transparency on the part of the bank and causes perjury to the mortgagee. Such as paying more money or putting you in a difficult position.
abusive mortgage clauses
According to the General Law for the Defense of Consumers and Users and the Civil Code, when a clause is considered abusive and void by a court, the damages generated will be restored, modifying the mortgage contract.
It is important to have the certainty and peace of mind of knowing that the law is on our side , however, it is always good to have both eyes wide open when applying for a mortgage.
Floor clauses and other examples
Who does not remember the case of the floor clauses, a clear example of abusive clauses in mortgages. Financial institutions established a limit that prevented a variable interest mortgage referenced to the Euribor or IRPH from becoming cheaper in the corresponding review of the interest rate to be applied. The case affected more than 100 financial entities throughout Spain and affected more than 3 million users. Approximately 98% of the rulings have been favorable to customers and are costing banks millions. For now.