The European Court condemns the floor clauses

The European Court condemns the floor clauses

The European Court has issued the judgment that establishes the nullity of the clauses, against this ruling there is no recourse that can be filed by banking entities, among which the most exposed are: Liberbank, Banco Popular, Sabadell and Caixabank

This sentence will benefit more than three million Spaniards who have contracted their mortgages with this floor clauses, to which they can obtain the total return since the clauses prevented to benefit from discounts below a predetermined threshold

This was due to the fact that the floor clauses were included in numerous mortgages with variable interest during the golden age of construction in Spain that delimited the mortgaged persons to benefit from lower interest rates

The Bank of Spain, through its report, announced that the amount to be recovered is estimated at approximately 7.5 billion euros. This amount corresponds to the worst possible scenario facing the bank where all clients turn to the courts for the full refund of the amount

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