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HOW TO SAFELY CLAIM THE “BASE CLAUSE” AFTER THE JUDGEMENT OF THE COURT OF JUSTICE OF THE EUROPEAN UNION FROM THE 21ST OF DECEMBER 2016

The recent Judgment of the Court of Justice of the European Union, from the 21st December 2016, has meant a blow to the banking sector and at the same time the recognition of the right of consumers affected by the base clause (in Spanish claúsula suelo) to recover 100% of the amount paid due to the mortgage contracted with your bank, since you can now claim the refund of the unduly amounts paid to the bank from the date of signing the mortgage.

Comunication Bureau

Date 17/01/2017

For this reason, the limitation agreed by the Supreme Court in its ruling of May 9th 2013 was to deprive, in general, any consumer who had concluded a mortgage contract prior to that date, of their right to obtain the full restitution of the amounts that have unduly been paid to the bank on the basis of the base clause during the period prior to May 9th 2013.

Fortunately from now on, from Balms Abogados we inform you that there is no and there cannot be any limitation in cases where your mortgage incorporates the abusive base clause to be able to claim from your bank not only the nullity of said clause and its elimination of the contract, but also the full refund of the unduly paid amounts since the signing of the mortgage, increasing considerably the amount to claim.

Also, the Government has announced the imminent approval of an extrajudicial procedure in order to claim from the banks the full refund of the unduly paid amount, a procedure that its length would not be longer than three months since you start your claim. This procedure will impulse and simplify the devolution of the unduly paid amounts, trying to avoid a judicial procedure.

In Balms Abogados we are aware that the full restitution of the unduly charged amounts by your bank requires three very important points to be considered. The first would be the return of the unduly charged amounts, but as a second aspect to be taken into consideration is that the money that now we can recover has been enjoyed for a few years without any consideration by your bank, so those legal interests must be added to the amount to be refunded for the difference of the loan instalments due to the non-application of the base clause (difference of quota) and, depending on the years in which the base clause has been applied, as it must be requested, and as a third aspect, it would be essential to consider the recalculation of the capital to be amortized to recover the difference of the capital pending with respect to the initial calculation made with the base clause.

However, if for Balms Abogados it is fundamental to know what integrates the total refund of the money unduly charged by your bank; it is equally important to know the legal channels available to claim with security and total guarantee the amounts improperly charged by your bank. As of today, the Government has not published a code of good practice in order to facilitate the procedures to require banks to comply with the issued Judgment, but despite this, the sources consulted have stated that in any case, the banks will be free to adhere to aforesaid government proposal.

From Balms Abogados we offer you legal advice to determine if your mortgage incorporates the base clause, with a system of claim to initiate against your bank through a friendly way as by judicial means in defence of your rights and, all this in order to recover your money, ensure the removal of the base clause of your mortgage and see your rights as a consumer compensated 100%.

Therefore, as soon as the new extrajudicial procedure will be approved we can advise to claim through this new procedure.

That is why, from the first moment in Balms Abogados we claim on your behalf and will ensure your bank compliance with the Judgment issued both at extrajudicial and judicial level, requesting the following:

1. The nullity of the base clause.

2. Calculation and return of the overpaid amounts since the signing.

3. Recalculation of the amortization table and updating amounts pending from the signature.

4. The legal interests of all amounts.

Do not hesitate to contact us and initiate the claim of your rights in a safe and a guaranteed way.

Francisco Lorenzo - Balms Abogados Marbella

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