December 20, 2024
In 2007 our customers bought a holiday home in Benalmádena and took a mortgage through Cajasur. The borrowing had a floor clause inserted into the mortgage deed, which the bank failed to openly disclose.
As interest rates fell following the financial crash in 2007/8, our customers ended up paying significantly more for their monthly mortgage payments. A claim was submitted which resulted in an offer of over €6,000.
We then subsequently submitted a claim for our clients being forced to meet all the opening expenses for their mortgage, when all they should have paid was 50% of the notary fee. To cover these costs we normally we need to see the paid invoices in respect of the notary, registry, gestoria and valuation.
In this case the customers were unable to locate the information, but luckily had retained a copy of the opening statement from when their mortgage was set up. This clearly showed all the above expenses as being paid through their bank account and allowed our lawyers to recover another €1,350.
