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BANK’S RESPONSIBILITY FOR ADVANCE PAYMENTS NOT PROPERLY SECURED IN THE PURCHASE OF PROPERTIES UNDER CONSTRUCTION

15/11/2016

Spanish legislation, both nationwide as well as in many of the autonomous communities, establishes the requeriment that monies paid on account for the purchase of properties off-plan or under construction shall be guaranteed. This requirements falls upon developers and takes effect through the pr...

ABUSE OF SO-CALLED “FLOOR CLAUSES” IN BANK MORTGAGES

11/02/2016

The development of the law in these cases shows a clear process of reinforcing the rights of the consumer which can be traced through the following landmarks: 1.      In judgment number 241/13 of 9 May 2013 the Supreme Tribunal declared that clauses which limit reductions in variable mortgage...

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