The SC imposes costs on a bank that settled a legal claim for a 'floor clause'.
The Plenary of the First Chamber of the Supreme Court upheld the appeal brought by a consumer against the judgment which did not impose legal costs on the bank which, despite settling the claim, had previously rejected an out-of-court complaint with the same content.
Both the Court of First Instance and the Provincial Court ruled that each party should bear its own costs because the claim had been filed when RDL 1/2017, of 20 January, on urgent measures for the protection of consumers with regard to floor clauses, was already in force, and the claimant had not resorted to the out-of-court procedure provided for in that regulation.
The First Chamber, on the other hand, takes into account that, although the consumer's out-of-court complaint took place before the entry into force of RDL 1/2017, this action was precisely that provided for in this regulation: to make a complaint to the financial institution to stop applying the floor clause and to return the amount unduly charged for its application. The financial institution rejected the request, claiming that it had acted correctly and that the floor clause was not abusive. However, once the lawsuit was filed, it settled the claim.
Therefore, the Supreme Court concludes that the Provincial Court's ruling infringes RDL 1/2017 if it is interpreted in light of the letter and purpose of Directive 93/13 on unfair terms in consumer contracts.
Euriux Abogados is your law firm with 52 offices in Spain and 300 professionals at your service. We work as a single firm to defend your legal interests throughout the country.
If you signed your mortgage between 2001 and 2012 and, in addition, the monthly instalment you pay has not fallen in recent years in the same way as the Euribor, it is likely that you have a floor clause.
In order to recover the money invested, professional advice is essential, as banks are not obliged to return the money. The calculation of the amount to be repaid is complex as the claim filed includes:
- The nullity of the Floor Clause.
- Calculation and refund of amounts overpaid since signing.
- Recalculation of the amortisation table and updating of amounts outstanding since signature.