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Explore our blog for insightful articles on many interesting and relevant topics
Costa Luz Lawyers > Our Blog (Page 4)

Help in foreclosure procedures

The Advocate General of the Court of Justice of the European Union (CJEU) has recently issued his expert conclusion on five questions referred by different Spanish Courts, the Supreme Court among others, in regards to early maturity clause contained in mortgage contracts. What is an early maturity clause? It is a clause by which Bank can claim the whole debt just after a minor default (one installment) by the mortgage debtor What did Spanish Courts ask the European Court? In an scenario where a foreclosure procedure was started after many unpaid mortgage installments BUT based on the existence of a clause on the mortgage...

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What a foreigner must know to buy a property in Spain

To buy a property is not an easy task, but if you know the steps to take, and get the right advice from the suitable person, you could obtain a big advance in this section and definetly a safe option to not to be wrong at the moment of buying a property The purchase of property abroad continues being a guideline at historical highs of property purchase by trimester of years before and has rised up to a 15% by international investors Each person who has decided to invest in property in this territory must know all alternatives and prices to avoid...

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List of all abusive clauses that a mortgage may contain

Clause of limitation to the minimum interest rate (floor clause): It is usually located in the stipulation 3 bis with the denomination. "Límite a la variacióndeltipo de interés variable” It usually coexists with another upward limit (or ceiling). The abusiveness of the clause due to imbalance arises when there is a disproportion between the floor and the ceiling so that it is the Bank that is covered against the mortgagor. 87% of mortgage users were not informed by their bank of the inclusion of said clause Multi-currency clause: The Supreme Court, in its Judgment of November 15, 2017,...

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