Don’t throw your money to the floor


In the last ten years over 400,000 Brits have bought property in Spain, most of them using a Spanish Mortgage from a Spanish Bank. Many of those house buyers have been burned, not by the glorious Spanish sunshine, but by problems with the mortgage agreements. Spain’s Banks and Insurance Consumer association, the ADICAE, estimates that a whopping 97% of borrowers are wholly unfamiliar with the content of their own mortgage agreements. This is a big issue, and has led to many ex pats losing their life savings and their home and heading back to the UK to start again.If you have a tracker mortgage, where the interest rates on the mortgage track the Euribor or European Interbank Offered Rate, then you could be over paying. The Euribor is a reference rate which takes the average interest rates in the Eurozone and is published daily. The idea of tracking this rate in a mortgage is that if the rate rises you pay more but if it falls then you pay less. However many banks set in their agreements a minimum rate of 3-4% meaning that if the Euribor falls, the banks have a built in cushion for continuing to make a profit. This is called the “clausa suelo” in Spanish, we know it as the Interest Floor Clause or a Collar Clause.

If you have an Interest Floor Clause on your mortgage that’s preventing you from benefitting from the low rates of the Euribor, then join thousands of other mortgage holders and make a claim with Martínez-Echevarría Abogados. We are the leading Law Firm in Andalusia. Our team of expert lawyers have a huge amount of experience in this field, making us one of the most prominent Spanish Law firms in defending the interests of bank customers. What’s more we operate on a No Win No Fee basis. That means that you make no upfront payment. At the end of the process the Interest Floor Clause will be removed from your mortgage agreement and you will recover all the excess charges that you have paid. We then charge a percentage of the amount recovered. For more information or to arrange an initial consultation contact us for free on 900 308 308


Name and Surname (*)

Email (*)

Telephone (*)

Bank Name (where the mortgage was issued) (*)

Province (*)

Address (*)

I have read and accepted the privacy policy

Please enter the code as shown below:

Once we have recieved your details one of our expert lawyers will call to arrange a free initial consultation.

Or if you prefer, call our freefone number between 0930 and 1400 or 1630 and 2000.

900 308 308