Mortgage Floor Clauses

  • There are approximately 319,000 British expats currently living in Spain who make up 21% of the Spanish foreign property buyer's market.
  • However, 2.5 million Spanish mortgages contained a hidden clause which unexpectedly capped minimum repayments above the interest rate advertised.
  • Read on to find out how to discover if you're affected and what you can do about it.

Certain tracker mortgages advertised interest rates as being based upon the centrally set EURIBOR interest rate.

However what homeowners were not told, is that their mortgage contained a ‘floor clause’ or ‘clausula suelo’ which capped the minimum interest rate in order to protect banks from negative interest rates.

This meant that after the initial fixed rate introductory period, mortgage payments rocketed and many homeowners were forced to pay thousands of euros more than expected.

Our service

Due to the complex nature of this type of claim it is very difficult to handle by yourself. Our team has years of experience in handling financial mis-selling claims and have recovered millions of pounds in compensation for our clients.

Hidden Cost

The clause is thought to add an extra €3,000 a year to mortgages making the average claim €9,000.


It's estimated that 90% of Spanish evictions are the result of hidden floor clauses.

Ruling Anticipated

A ruling from the EU this year is expected to determine whether mortgage holders can claim back further than 2013.

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