The Supreme Court declares the nullity of the floor clause of a developer loan, subsequently novated by the buyer.
The First Chamber of the Supreme Court in a sentence dated November 24th, 2017, has declared the nullity of the floor clause of a loan from a developer in which a buyer was subrogated.
In the developer loan in which the homebuyer was subrogated, the floor clause was 3.5%, while in the deed of subrogation - October 2006 - it was 4%. In 2009 the different conditions of the loan were modified: extension of the term from 30 to 40 years, lack of capital payment for four years, interest and commissions, as well as a reduction of the floor clause to 3%.
From Balms Abogados we want to highlight the importance of this case since the buyer of the property in promotion, is usually subrogated in the loan initially granted to the developer. So that the loan has not been initially granted to a consumer. This fact nevertheless indicates the Supreme Court in its judgment, does not exempt the bank from its obligation to provide the consumer with information that allows him to adopt his decision to contract with full knowledge of the economic and legal burden that will mean subrogation as a borrower in the loan mortgage, without the need for a detailed and detailed analysis of the contract. It is the bank and not the buyer who has to provide this information.
With this recent Sentence, Balms Abogados values very positively that with this ruling the criterion is reinforced that the nullity of the clause cannot be corrected later, either an agreement or a reduction of its conditions.
The actions requesting the nullity of the conditions contained in your mortgage can be filed before the Court of your residence, and will not only produce the nullity of the clause but the refund of the unduly paid.
Balms Abogados offers the advice of our experts with the maximum guarantee in order to evaluate your particular case and initiate the corresponding claim with a high degree of success.