FLOOR CLAUSES

Costa Almería News - - News -

The Supreme Court has ruled that bank cus­tomers who pre­vi­ously ne­go­ti­ated a re­duc­tion in the floor clauses in their mort­gage loans – abu­sive clauses that set a min­i­mum rate be­low which the in­ter­est could not fall no mat­ter how low ref­er­ence rates dropped – still main­tain their right to file law­suits de­mand­ing a full re­fund of the amounts un­duly charged due to the floor clauses. The rul­ing came in a case in Pam­plona.

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