The floor clause is a contractual term included in several Spanish mortgages, it has been considered abusive in most cases according to the Spanish courts.
Literally any mortgage before 2015 could have a floor clause.
By setting a limit on how far mortgage rates can fall the bank forces you to pay a higher instalment even if the market interest rates were lower.
Our advice: If you think your mortgage contains a floor clause… You know what to do!
1. Answer some simple questions.
2. Scan and send us the requested documentation.
3. A legal expert will contact you to let you know how much money you can claim back.
We will keep you informed during the whole process: