Article by Spanish Property Insight
A Court of First Instance of Seville has ruled in favor of the complete recovery
Of the costs of setting up a mortgage. The main novelty is that the return of the Documented Legal Acts (AJD) has been included, which account for the majority of the claim.
Beginning with the Supreme Court Judgment of December 2015 -Date No.:
705 / 2015-, the Spanish courts almost nullified the repayment of expenses of Registry of Property and Notary, but the expenses of Documented Legal Acts were left to the discretion of each Chamber.
This judgment states that this is an abusive practice by the banks.
That, on the one hand, there was no room for negotiation of such expenditure with consumers and, on the other hand, because banks always benefited, by significantly increasing costs of the loan. In the Sevillian ruling, AJD is declared void and the bank to return said amount plus interest generated from the date of payment.
Our partner, Mark Stücklin, has also picked up the good news on his blog, this new ruling opens the door to many customers affected by undue charges for
The expenses of formalization of their mortgages in force or canceled until the four years above.
Del Canto Chambers offers a comprehensive vision on floor clauses and recovery of amounts unduly charged by the banks.