I recently read that a new law may be passed as early as Friday instructing banks ref. las clausalas suelo.
I went to my bank a year ago to check if my mortgage had the floor clause and was told it did not.
However, knowing now that my bank is one of those affected, I am a little suspicious.
Can one tell if the clause is there, simply by checking my last 16 years mortgage payments ?
My payments have always been the same over the entire period.. This would indicate to me that there is a clause, since payments should surely have gone down when the euribor altered.
I did check the mortgage held by the bank but could not find any mention of a clause. However, it now seems I was looking at incorrect wording and should have searched for -
“límite mínimo del tipo de interés del (…) %”.
“límites a la variedad del tipo de interés”.
“tipo de interés remunerado aplicable”.
“tipo aplicable de interés ordinario”.
“tipo de interés nominal”.
“en ningún caso el tipo nominal anual podrá ser inferior al (…) %”.
Information and questions about the Law in Spain and Andalucia.
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