The sentence of the Supreme Court of October 16th, 2010 allows you to claim these amounts if you signed with your bank the elimination or reduction of the floor clause.
Are the agreements to eliminate or reduce the land signed in their day with the banks valid? In a recent judgment dated October 16th, 2010, the Supreme Court said that these pacts are not valid allowing you to claim the nullity of the floor clause and the return of the overpaid amount in application of said null clause. Balms Abogados has always defended the nullity of these pacts with banking entities since they have been carried out without the necessary advice required in each case.
The decision of the Supreme Court is based on the fact that if the stipulation that contains a floor clause of a mortgage loan is null and void, the pacts signed with the bank cannot produce any legal effect. According to the declaration of the Supreme Court the agreements signed by many clients with their bank would not have legal validity, since the nullity affects the floor clause root what in practice is equivalent to saying that it is considered not to be in the mortgage loan deed and would give the right to claim what was unduly paid.
What happens if at the time I signed with my bank a removal or reduction of the floor clause? According to the Supreme Court if the ground clause is null, this will allow you to claim the amounts overcharged by your bank regardless of that agreement.
The nullity of the floor clause does not prescribe, therefore you can always request in the Court of your place of residence the nullity of the same and claim the improperly charged by your bank plus legal interests.
Balms Abogados offers advice from our experts with the maximum guarantee to assess your particular case and initiate the corresponding claim with a high degree of success.