Author Topic: mortgage rip off  (Read 25951 times)

Offline TheCooler

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Re: mortgage rip off
« Reply #60 on: June 18, 2013, 20:10:49 pm »
Hi
Solbank are still denying the illegality of these floor clauses.
Has any body else had a similar response.
Thanks

Yes Conair , I emailed the Caleta branch in Aug 2012.
I asked them in light of recent court cases perhaps they should consider removing my clause,and as I hadn't had the mortgage for too long I wouldn't persue them for compensation for any back dated overpayments.
Their reply was to state that the clause is legal , and that i should count myself lucky as the collar rate had infact increased.
And so it remains. I'm sure it's days are numbered.
 

Offline fifi

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Re: mortgage rip off
« Reply #61 on: June 18, 2013, 21:26:58 pm »
Hello Fifi
Once again you have been most helpful on this particular subject.
I seem to remember reading one of your previous posts that covered the subject of the banks transparency regarding the floor clauses.I think you posted a link.
I just wondered if you have this info available.
Many thanks.


Is this the one you mean Conair ? http://www.roundtownnews.com/rtn-features/rtn-legal/item/39868-mortgage-floor-rates.html

All of the other links are on the BBVA thread. http://www.fuerteventura-forum.com/index.php?topic=15098.0
« Last Edit: June 18, 2013, 21:29:59 pm by fifi »
 

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Re: mortgage rip off
« Reply #61 on: June 18, 2013, 21:26:58 pm »

Offline limpet

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Re: mortgage rip off
« Reply #62 on: June 19, 2013, 12:51:51 pm »
Hi Conair, if you would give me your number I could fill you in on the new process, I
have been helping a friend this week, all is not lost.
 

Offline ocart

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Re: mortgage rip off
« Reply #63 on: June 19, 2013, 16:12:32 pm »
Hi Wayne

I would also be interested in what you know if you could email me at michael.hexmm@gmail.com. Many thanks

Michael
 

Offline fifi

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Re: mortgage rip off
« Reply #64 on: June 19, 2013, 22:42:07 pm »
 

Offline conairTopic starter

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Re: mortgage rip off
« Reply #65 on: June 20, 2013, 04:58:51 am »
Hi Wayne.
I would be very interested to talk with you.
Please call me on 663486578 any time after 4 pm tomorrow or over weekend.
 

Offline conairTopic starter

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Re: mortgage rip off
« Reply #66 on: June 20, 2013, 09:35:56 am »
Hi Wayne.
Just a thought is there as tel no i can ring you on or an email address.
Many thanks
 

Offline TheCooler

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Re: mortgage rip off
« Reply #67 on: June 20, 2013, 10:08:59 am »
Without the threat of retroactive compensation or arbitry fines , there is nothing in place to force banks like Sabadell & Banco popular to remove their clauses.
So it's carry on as usual chaps.
 

Offline thomo

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Re: mortgage rip off
« Reply #68 on: June 20, 2013, 21:37:45 pm »
 

Offline conairTopic starter

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Re: mortgage rip off
« Reply #69 on: July 22, 2013, 09:00:42 am »
Latest news from solbank is that they are still denying the illegality of these clauses.
This dispite the courts rulings .
Does anybody have any suggestions.
 

Offline fifi

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Re: mortgage rip off
« Reply #70 on: August 16, 2013, 22:14:19 pm »
        Details in English of the Spanish bank Ombudsman scheme http://www.bde.es/bde/en/secciones/servicios/Particulares_y_e/Servicio_de_Recl/ and list of relevant contact details per bank. http://www.bde.es/servicio/reclama/bancos.pdf

No harm in trying. :)
 

Offline dagwood

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Re: mortgage rip off
« Reply #71 on: August 26, 2013, 18:04:38 pm »
It might be worth noting, if you take legal advice the Ombudsman will refuse to look at your claim. That's the case in Ireland and it would probably be the same in all EU countries. It does no harm to remind them of the Spanish Financial Regulator who I believe takes themselves very seriously. Always say you will bring your problem to the Regulators attention. And do so if need be. No bank wants the Regulator on their house. Banks all over the world are bullies and you need to stand up to them.     
 

Offline fifi

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Re: mortgage rip off
« Reply #72 on: August 29, 2013, 10:13:09 am »
The Voice magazine has an article this month written by Sabrina Willians from Canary Admin Services. The paper is online if anyone wants to read the full article. http://thevoice-fuerteventura.com/online-issue

 In it she also recommends contacting the Banks Ombudsman. (See last link that I have put on my previous post). The Bank has to issue a response to them within four months and the final report may be used in court if it determines the floor clause to be abusive. First step recommended before this is to contact your bank and ask to speak to the Manager, which I know some of you have already done.
 

Offline dagwood

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Re: mortgage rip off
« Reply #73 on: September 06, 2013, 19:53:13 pm »
The Voice magazine has an article this month written by Sabrina Willians from Canary Admin Services. The paper is online if anyone wants to read the full article. http://thevoice-fuerteventura.com/online-issue

 In it she also recommends contacting the Banks Ombudsman. (See last link that I have put on my previous post). The Bank has to issue a response to them within four months and the final report may be used in court if it determines the floor clause to be abusive. First step recommended before this is to contact your bank and ask to speak to the Manager, which I know some of you have already done.
Make sure to have a witnes with you and if they speak spanish all the better. Better still if they understand spanish and only listen. 
 

Offline sarah1312

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Re: mortgage rip off
« Reply #74 on: October 13, 2013, 14:17:13 pm »
Hi just to keep everyone updated.

White-Baos have sent a letter to Sol Bank left it the required 8 weeks for them to reply and nothing so they have advised only way forward is to take Sol- bank to court and fees look like about 2K-3K plus the banks costs if we lose - I am happy to join a group if anyone wants to bring a group claim

Regards 
 

Offline conairTopic starter

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Re: mortgage rip off
« Reply #75 on: October 15, 2013, 08:17:36 am »
Hi Sarah.
In the same situation but just waiting for the last 10 days of the 8 week period from solbank.
Would be happy to join forces.
Please contact me.
Thanks
 

Offline sarah1312

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Re: mortgage rip off
« Reply #76 on: October 15, 2013, 08:24:38 am »
Hi Con Air

Will let White Baos know there are 2 off us as I have not replied to them yet and see if they are willing to do a joint claim then we can see if there are any others.

Regards

Sarah
 

Offline antique1

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mortgage rip off
« Reply #77 on: December 05, 2013, 17:06:05 pm »
Looks like BBVA have been backed into a corner now:
http://www.rdtabogados.co.uk/news/news.aspx
Lets hope the rest have to follow suit.
 

Offline ocart

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Re: mortgage rip off
« Reply #78 on: December 05, 2013, 17:25:58 pm »
I think to start, we who have Solbank mortgages should e-mail the Bank and request that the floor clause be removed or otherwise we will take joint legal action.  We would need to co-ordinate this approach so any ideas would be helpful
 

Offline antique1

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Re: mortgage rip off
« Reply #79 on: December 06, 2013, 10:48:37 am »
I agree - we are with Solbank and I have been in regular contact with their Caleta branch about this, but their reply has been consistent in that they won't be removing the floor limit clause. Do you know how many of us there are?
 

Offline TheCooler

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Re: mortgage rip off
« Reply #80 on: December 06, 2013, 14:24:53 pm »
Does this grievance get resolved at a local level.
Should we be focusing on the head office?
I was certainly aware of the clause when taking out my mortgage.what I wasn't aware of was it had been deemed an unfair banking practice.
I don't think Solbanks argument that we knew about it holds much water , as they were fully aware that it's legality was some what doubtful.
 

Offline ocart

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Re: mortgage rip off
« Reply #81 on: December 07, 2013, 13:54:16 pm »
Does this grievance get resolved at a local level.
Should we be focusing on the head office?
I was certainly aware of the clause when taking out my mortgage.what I wasn't aware of was it had been deemed an unfair banking practice.
I don't think Solbanks argument that we knew about it holds much water , as they were fully aware that it's legality was some what doubtful.

I think starting with the local branch would be best .  They will send it on to their head office anyway (Last time I queried it they did and I was informed that they were not going to modify the floor clause).  I wonder just how many of forum members have a mortgage with Solbank in Caleta  Perhaps if we got that sorted we could coordinate an e mail blitz and take it from there.   I am willing to collate mortgage holders if anyone wants to PM me on michael.hexmm@gmail.com.  We could draw up a generic e-mail for all to use for their own particular details.  Any alternate ideas would be most welcome

Michael
 

Offline antique1

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mortgage rip off
« Reply #82 on: December 11, 2013, 12:35:46 pm »
Michael,
I've emailed you - lets see if we can collectively get anywhere.
 

Offline ocart

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Re: mortgage rip off
« Reply #83 on: December 11, 2013, 13:06:44 pm »
Thanks antique1. Email has not come through just yet but when it does I will get back to you
 

Offline sarah1312

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Re: mortgage rip off
« Reply #84 on: December 12, 2013, 20:52:14 pm »
I have been to the bank today at their request they have offered to reduce my floor limit to 2.5

They said unlike other banks that have been told to remove them ours are legal as they are written into the the deeds signed at the notary and are not therefore abusive

Any one else been approached
 

Offline ocart

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Re: mortgage rip off
« Reply #85 on: December 12, 2013, 23:29:28 pm »
Hi sarah1312

Well that's a great start to getting Solbank to comply with the Courts as they have resolutely refused to even consider any responsibility on their part up to now.  Mind you they are still about 1% over what should be payable so the ball is in your court so to speak.  I would push them for more but that would be me.  Best of luck and well done

Michael
 

Offline sarah1312

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Re: mortgage rip off
« Reply #86 on: December 13, 2013, 08:21:55 am »
Yes nothing in writing but they want to prepare new docs if we agree I need to check out the figures as it did not reduce as much as I expected so will email bank today and will try for 2%

I am sure it will not be entered as a floor clause this time I think they are either offering Euro bor plus 2.5 but it still better than the 4.25 I am currently paying

Will keep you posted
 

Offline TheCooler

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Re: mortgage rip off
« Reply #87 on: December 13, 2013, 08:32:14 am »
Well done Sarah.

 

Offline sarah1312

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Re: mortgage rip off
« Reply #88 on: January 14, 2014, 13:00:28 pm »
Just to say I have been to bank could not get them under 2.5% as none of the cases won in court to date that I have read to date have been awarded back payments I decided to get in now rather than wait until a precedent is set when someone final takes them to court so I have signed up for that deal its still a floor clause and we did not havr to go to notary as I had expected so really it is just  deal between myself and bank BUT it has stopped my leagal claim so I presume thats what they will do with anyone who starts proceedings against them very clever really as this way it could take years before anyone takes them on

Regards
 

Offline conairTopic starter

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Re: mortgage rip off
« Reply #89 on: February 12, 2014, 15:37:34 pm »
Does anybody know of any further legal cases and their outcomes regarding the floor clauses.