Consumers in Spain have suffered a blow as the Supreme Court changed the precedents of the High Courts and ruled that if there is an abusive clause relating to expenses in a mortgage, that the clients are responsible for payment of the stamp duty and half the Notary fees.
Previously the Civil Chamber of the High Court had made a judgement that the bank had to assume payment of this concept completely, with the exception of the Stamp Duty, as this issue had caused a lot of controversies and they had not been willing to pronounce a Judgement on this. In many provincial courts, sentences had been passed that stated the obligation of payment of the Stamp Duty and all the expenses of setting up a mortgage to be paid by the Bank, but the Supreme Tribunal overrules this and unfortunately declares that the payer of the Stamp Duty is the consumer.
Despite the refusal of the Supreme Tribunal for the claim of Stamp Duty, clients cna still claim through the Courts the refund of amounts covered by the abusive clauses, including overpaid interest on the floor clauses and expenses of setting up the mortgage, such as a refund of fees they paid for the Notary (although it has been ruled that clients will have to pay half), the Land Registry for the mortgage deed, and the solicitor of gestoria who deal with it (but only if the gestoria was imposed by the bank), plus a valuation fee.
We regret to say that yesterday´s decision seriously limits the amount of the claim we can make through the Courts for those clients with an abusive clause in their mortgage or mortgages.
We will be studying individually cases already in hand, about to go into Court, to advise our clients. Those already lodged in Court, we are unable to change now.
If you wish us to study if you can claim back money for overpaid interest because of a floor clause or expenses because of an abusive clause in your mortgage, please send a copy of your mortgage deed to Amanda at email@example.com