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Are agreements between the Bank and Consumer on Floor Clauses valid?

Very recently, on 15 June 2018, the Supreme Court issued a new ruling on a case relating to mortgage deeds novation modifying the floor clause through an agreement between the client and the financial institution. This judgment declares the nullity of the Floor Clause and the novation carried out subsequently through the signing of the agreement proposed by the bank to the client. What does the case decide? The case raises, as a matter of substance, the application of transparency control to a mortgage loan that included the so-called floor clause and that was subsequently the object of modifying novation. As stated in...

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