BBVA Mortgage Scandal

[sarah1312]

Went to bank today and they have offered to reduce our floor ceiling to 2.5 the monthly repayments don't seem to have reduced much so not sure if that's eurobor plus .8  plus the 2.5 which is not so good anyone else had an offer?

[antique1]

Sarah, it's a start, and I think you may be the first to get any kind of offer - it is worth checking what it actually means, as 2.5% + 0.8% + Euribor (currently very low, around 0.5% I think) isn't much of an offer. What you really want is the floor limit removed completely so you just have Euribor + 0.8%, but that would be expecting a lot from our friends at Solbank.
Have they said that they will refund payments made since your floor limit kicked in?

[sarah1312]

No it is just 2.5 lower limit so that is ok as I am paying 4.5 at the moment so not a bad offer what I cant understand is that it is still a floor limit my mortgage rate remains at Eurobor plus.8

Has anyone with an of the other banks any info IE when the bank went to court and lost did they still have to apply to get their mortgage reduced or was it automatic

Also has anyone else been offer a deal with other banks?

[conair]

Hi Sarah.
Not been offered anything yet.
Is your mortgage with bbva or solbank.
Thanks

[sarah1312]

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

[sarah1312]

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

[TheCooler]

Hi Sarah,
In your opinion do you think Sabadell will only reduce the collar if you start legal precedings?

[conair]

Hi Sarah.
Which branch of solbank have you been dealing with and which staff member has been the most helpful.
Well done and were they aware at branch level that white baos had been making a claim on your behalf.
Thanks

[sarah1312]

Hi

Solbank in the Atlantico Centre Caleta.

White B forwarded a letter from the bank saying they wished to speak to me (why the bank did not contact me direct I have no idea) it was from Head Office and in Spanish I emailed Martina who I have always dealt with the branch and she arranged for me to go into the bank and meet someone from Head Office and Martina translated I could not get them over 2.5% so said I would think about it but after 10 days and no lower offer I emailed Martina to say OK and it took about 10 days to prepare the paperwork which was 1 page all in Spanish signed by myself and hubby and Martina for the bank

Regards

Regards

[TheCooler]

Thanks for the info Sarah.
Well done.