“MORTGAGE GROUND CLAUSE” (MINIMUM INTEREST RATE): CAN I CLAIM MONEY BACK FROM MY BANK?

Initially, the Spanish Supreme Court declared the nullity of the so called “ground clause” (pre-established minimum interest rate) in mortgage loans in its ruling on the 9th of May 2013. However, it also established that not all “ground clauses” were automatically null, but only those which were deemed abusive due to a lack of transparency from insufficient information to the consumer. Furthermore, the sentence, having declared the “ground clause” as abusive, only limited the obligation for the banks to the repayment of the wrongfully charged interests from the date of the ruling onwards, ie 9th of May 2013.

Recently, the Court of Justice of the European Union (CJUE) also issued a ruling on this matter, dated 21st of December 2016, in which it declared the obligation of the financial entities to proceed with the refund of the total excess amount paid by the consumers who had a “ground clause” stipulated in their mortgage. Said obligation, as stated by the Court, cannot be subject to a limited retroactivity, as previously ruled by the Spanish Supreme Court, due to this leading to an incomplete and insufficient protection to the consumers.

Based on this ruling, it would seem reasonable for every person who has a mortgage in Spain to check if his/her mortgage contains a “ground clause” and if so, if they would have sufficient legal basis to claim the reimbursement of the aforementioned excess costs.

But firstly: what is a “ground clause”? A “ground clause” is described as a condition included in some variable-interest rate mortgage loans that limits the lowest amount of the Euribor fluctuations, on which monthly interest payments are calculated. This clause establishes the minimum amount of interest rate to be paid, hence when interest rates fall, it gives way to financial loss to the consumer, who is forced to pay more money in concept of interest each month.

Another factor to take into consideration would be if all these clauses were to be considered as illegal. The short answer is no, however we must take into consideration the aforementioned precedent set by the Spanish Supreme Court, in which it states that for the ““ground clause” to be considered illegal, it must be abusive in nature, due to lack of transparency and insufficient information to the consumer.

IMONT LEGAL SERVICES offers its clients a free analysis of their mortgage agreement, in which our specialist lawyers will examine if their loan contains a “ground clause” and if so, if there is legal basis for it to be deemed abusive, as well as a calculation of the amount of interest that can be claimed back from the lending financial institution.

Once confirmed the existence of an abusive “ground clause” and the claimable amount, we will determine the best possible legal action against your bank, based on each specific situation, both judicially and extra-judicially.

If you believe to be affected by the “ground clause”, please feel free to contact us to study your case.

THE PLUSVALÍA TAX DECLARED UNCONSTITUTIONAL BY THE SPANISH LAW, IN CASE YOU SELL YOUR PROPERTY AT A LOSS

Constitutional Court Judgment of February 16, 2017 rules that this plusvalía tax works against the Spanish Constitution in those cases where there has been no increase in land value at the time of the transfer, which means that the vendor would sell the property at a loss. It is a true fact that the ruling concerns only a legal provision of the Basque Country (Guipúzcoa) but this legal provision is a copy of the national Government regulation that applies to the same cases, therefore we must assume that this national Government regulation is also affected.

The general nature of this tax is not against the constitution as such. However, the tax can be against the Constitution in situations when there is a non-existence of increased land value at the time of the ownership transfer. Therefore, IMONTLEGAL SERVICES, S. L. will offer you advice and assistance on how to file a legal challenge with concern to the plusvalía tax, if you sold your property during the last four years or if you are planning to sell Spanish property and provided there has been a lack of increase in its land value.

How do I reclaim overpaid tax?

The procedure to reclaim overpaid tax starts with a written letter sent to Town Hall which had the property taxed, with a claim for the plusvalía tax to be paid back to you. If the Town Hall does not answer or if the Town Hall´s answer is negative, an appeal can be made, called “recurso de reposición”. Subsequently, another appeal can be made at the Spanish Court (Tribunal Económico-Administrativo) called “reclamación económico-administrativa”.

After these steps have been taken within the frame of Town Hall Administration, a legal claim can be made by judicial means. Through a Court Claim at the competent Supreme Court of Justice called “recurso contencioso-administrativo” possibilities for a successful outcome increase considerably.

Before making a legal claim by judicial means it is advisable to take all possible assumptions into account. It should be remembered that we are dealing with an administrative matter concerning the payment of taxes. Therefore, the non-payment of the tax is by no means to be recommended, as the Administration has the judicial power to charge penalty for unpaid taxes. And it is the Court that has to decide whether overpaid tax shall be returned.

Feel free to contact us any time, by calling or mailing us. We will be pleased to study your individual case and see what we can do for you. We will also be able to give you a price estimate for the legal procedure.

LA PLUSVALÍA MUNICIPAL ES INCONSTITUCIONAL CUANDO SE VENDE CON PÉRDIDAS.

La reciente Sentencia del Tribunal Constitucional, de 16 de febrero de 2017, declara que este impuesto de plusvalía es inconstitucional en aquellos supuestos en los que no hay un aumento de valor del terreno al momento de la transmisión, o lo que es lo mismo la venta de la vivienda supone una pérdida patrimonial para el vendedor. Es cierto que la sentencia se refiere especialmente a una norma del País Vasco (Guipúzcoa), pero la misma es copia de la normativa estatal en la materia, por lo que entendemos que afectaría también a esta.

El impuesto no es, con carácter general, inconstitucional, pero sí que puede llegar a serlo en aquellos supuestos en los que no se presenta aumento de valor del terreno al momento de la transmisión. Por ello si en los últimos cuatro años ha vendido su inmueble o está pensando en venderlo, en IMONT LEGAL SERVICES, S.L., ofrecemos a nuestros clientes asesoramiento con respecto a la posible impugnación del pago de plusvalía, siempre y cuando el valor del mismo no haya experimentado un incremento.

El procedimiento de reclamación se inicia mediante un escrito de solicitud de rectificación y devolución de ingresos indebidos, ante el ayuntamiento que ha recaudado el impuesto. Si el Ayuntamiento no responde o su respuesta es negativa, cabe interponer primero un denominado recurso de reposición y posteriormente una reclamación económica-administrativa ante el Tribunal Económico Administrativo municipal correspondiente.

Con estos recursos termina la vía administrativa y se inicia la vía judicial, donde se incrementan las posibilidades de obtener un resultado satisfactoria, interponiendo recurso contencioso administrativo ante el Tribunal Superior de Justicia correspondiente.

Antes de iniciar la vía judicial, resulta aconsejable valorar cada supuesto, recuerde que al ser materia administrativa, relativa al pago de impuestos, en ningún caso es aconsejable el imagino de la liquidación, ya que la administración tiene potestad de asegurarse su pago con recargos, siendo en sede judicial en la que se determinará la devolución de las cantidades indebidamente satisfechas.

Póngase en contacto con nosotros, en los teléfonos referenciados, y estudiaremos su asunto de forma individualizada, ofreciéndole presupuesto.