FLOOR CLAUSES

If you want to claim your “floor clause”, FreeClaim may help you. Our lawyers can help to eliminate flor clauses included in mortgages agreements or loans. Those clauses shall be considering null and void, and the bank will have to return the undue amounts collected under the application of that clause.

What is a floor clause? How do I know if a have a floor clause?

The so-called “floor clauses” prevent the interest rate from going below a baseline minimum, although the Euribor (or other bank index) falls below. Currently, the Euribor quite low so, if your mortgage has this kind of unfair clauses, you might not be benefiting from the fall in the index.

To find out if your home mortgage agreement includes a floor clause, you should review your mortgage public deed. If it says that in any case the interest rate may be less than a fixed percentage, this is a floor clause.

In addition, you can start a claim on the floor clause if the interest rate shown on your last bank excerpt is not equal to Euribor (or your particular bank index) plus the differential rate that you agreed with the bank.

Our lawyers will help you from the beginning of the claim and, in case that the Bank refuses to negotiate, we will proceed to sue them on your behalf, requesting that the clause shall be declare null and void.

Removing the clause floor can not only benefit yourself in the future by lowing the rate interest, but you may recover all the amounts unduly received by the Bank, as several court judgments have stated.

If you are one of those affected by the mortgage floor clauses, we will indicate you all the necessary steps to remove it, from the beginning to the effective elimination of the clause.

The legal procedure begins with a letter of complaint about the floor clause. Later, our lawyers soil will try a friendly solution that would be beneficial to our clients. Should the attempts are successful, it will be started a legal claim to remove the clause floor.

If you want to claim the floor clause or other unfair terms, from FreeClaim will assist you in the claim and, where appropriate, in the legal process, without any cost for you, as FreeClaim will only charge you a small percentage the final amount you get paid with.