Floor clause mortgage

[Si Tie]

I would be interested to know how people got on claiming back Money owed due to these
types of mortgages.   I found our bank really unhelpful (Banca March).  I would be interested
also if anyones used a solicitor and if this helped the process?

thanks

[Captain Sensible]

We used a lawyer to get our refund from Solbank.  The process started in October 2016, and they didn't pay out until June 2017.  It was worth waiting for.

A friend of ours has also got a refund, and he pursued it himself.

[Si Tie]

Can I ask who you used and how much it cost?  

[Captain Sensible]

I used Fuerteventura Law in Puerto.  The costs were included in the settlement.

[Sam]

I found our bank really unhelpful (Banca March).

Try to contact your branch over the email. Once there's no reply in a couple of weeks send the same email to the branch again with a copy heading the their head office. That could help getting a reply from them.

I would be interested also if anyones used a solicitor and if this helped the process?

I would use a solicitor. The bank will see how serious about it you actually are and might follow the rules to the letter.

[Raye]

I have been trying to get a refund from Banco Popular and they have refused on grounds that it is not my first home. Also they reduced the clause for 3 years, but now have put it back up to 4%. Probably time to get a Lawyer.

[Si Tie]

I have been trying to get a refund from Banco Popular and they have refused on grounds that it is not my first home. Also they reduced the clause for 3 years, but now have put it back up to 4%. Probably time to get a Lawyer.

How can the fact its not your first home be a valid reason?  I have been in contact with the company mentioned.  early stages as yet.  I think the banks in Spain just seem to make it up.

[Raye]

You are right Si, they seem to make it up as they go along. They have had over €100k from me in interest alone, so now is the time to get a Lawyer.

[Sam]

I have been trying to get a refund from Banco Popular and they have refused on grounds that it is not my first home.

I'm sure the lawyer will laugh once you tell them about the excuse.
Talking about lawyers, no win, no fees would be great in this case. You'll at least will see your chances right on the beginning of the really long process.

[Spitfire58]

I have been trying to get a refund from Banco Popular and they have refused on grounds that it is not my first home.

I'm sure the lawyer will laugh once you tell them about the excuse.
Talking about lawyers, no win, no fees would be great in this case. You'll at least will see your chances right on the beginning of the really long process.

They usually charge what can be a large chunk of the final figure don’t they !! I personally have never used one but would be very wary of “ambulance chasers” on principle