The European Court of Justice initiates the view on the ground clauses in mortgage Spain

The European Court of Justice begins today to assess since when the invalidity of the clauses soil in the Spanish mortgages would apply, which is the most decisive factor for consumers affected by soil clauses point.

The Court will decide on retroactivity and therefore may force the banks to repay the amounts collected by applying the ground from the date of signing the contract clause. Currently the retroactivity is limited to May 2013, date of the first judgment of the Supreme Court.

In October 2015, the European Commission and published a report which stated that "it is not possible that national courts can moderate the return of amounts paid consumer (...) pursuant to a clause declared null from the origin defect information and / or transparency ".

For OCU the key issue now is to know whether to extend the retroactivity to the date of the mortgage contract, as would be reasonable for consumers. Also, OCU still requiring banks in the event that the Euribor is placed on negative values ​​necessary, apply and conditions are reflected in the contracts are respected.

The hearing that starts today is just the starting point and the process expected to last months until the final verdict is known. Sources OCU want to convey a positive message to this effect and offer the possibility of initiating affected individually and demands for the amounts due from the floor clauses potential. More information at:

http://www.ocu.org/dinero/hipotecas/informe/clausulas-suelo-ocu