Crushed by the house

 

A new judgment from the Supreme Court on May the 9th opens the door for proceedings against those banks which have granted mortgage loans with minimum interest rates (so called “clausula suelo”) imposed.

Nevertheless before starting the corresponding court case, expensive in time and costs, we consider that it would be advisable to make a written petition (keep a copy with the corresponding receipt stamp!) to the appropriate credit institution in order to request the cancelation of this clause and to renegotiate the mortgage loan conditions. According to our information, many credit institutions are prepared to satisfy the above mentioned judgment. By this means an expensive and annoying court case can be avoided.

And on the other hand, if the credit institution is not willing to reconsider the mortgage conditions, the petition filed may serve as an evidence to show the credit receivers’ effort to achieve a settlement out of court. In consequence, the credit institution probably will have to carry the court costs once filed the demand.

You find a form for the corresponding petition below:

AL BANC O CAIXA (Name credit institution)…..

Sra (Mrs.)…………………….i Sr (Mr) ………………………………, majors d’edat, amb domicili al Carrer (of age, with domicile in ) …………………… de ………………… (tel……………………i mail………………………..) amb documents d’identitat núm.(With passport no. ) ……………………….. i ……..

EXPOSEN (expose)

1.- Que en data de ……………………. de …………………… de …………………….. firmaren escriptura de préstec hipotecari davant en notari Sr. …………………… (núm. de protocol …………………….)
That on……………………………………………………. they have signed a title dead about a mortgage loan before the notary……………………….with registration no. ………………………….

2.- Que a l’esmentat contracte, clàusula ………………………….., hi ha una clàusula terra del ……………………..% que no va esser expressament comunicada, faltant una evident transparència en la seva comercialització.
That there is a minimum interest rate clause of ……………..% imposed in the corresponding loan contract which was not communicated, considering that the necessary transparency is missing.

3.- Que a la vista de la sentència del Tribunal Suprem de 9 de maig de 2013
According to the judgment of the Supreme Court from the 09th of May 2013

DEMANAM: que se suprimesqui la clàusula terra contenguda a l’apartat …………………………. i se procesdesqui a la revisió de la quota.
We request to eliminate the beforementiond clause about the minimum interest rate in paragraph……………. and to recalculate the rate payable.

Palma a …………….. de …………….. de 2013