More than 12,500 consumers support OCU´s campaign to recover mortgage closing fees19 dic. 2016
OCU's Calculator Webpage receives 45,000 visits
On November 23rd, OCU launched its campaign to help consumers recover the abusive fees charged by financial entities for executing their mortgages. Just one month later, the campaign has received the support of more than 12,500 consumers who have joined this cause through OCU's Movilízate webpage.
OCU reminds users that it started this campaign in response to a sentences issued by the Supreme Court at the end of 2015 which declared that clauses which forced consumers to pay for all of the costs related with setting up and executing mortgages (notary fees, registration fees and payment of the Stamp Duty) were abusive when it is the banks themselves who most benefit from a mortgage, not the consumers. For an average mortgage of €150,000, the closing expenses can reach up to €3,100; these include notary fees (€425), registration fees (125€) and, most importantly, the Stamp Duty which can, on average, be around €2,550 depending on the Autonomous Community.
According to OCU, there were more than 6 million mortgages in Spain in 2015 alone to which the criteria established in the Supreme Court's decision could be applied. This sentence finds that clauses making consumers entirely responsible for paying ALL costs related to setting up and executing a mortgage are abusive. Just in 2015, these closing fees cost consumers around €450 million. Now, consumers are able to recover these abusive costs thanks to the sentence regarding abusive clauses, supported by OCU.
OCU has launched a campaign to inform consumers of the ways in which they can recover these fees. In order to do this, it has made a calculator available on its website for all consumers where affected individuals can find out approximately how much they paid when they were granted their mortgage. This calculator has received more than 45,000 visits since its launch. OCU has also made a toll-free telephone number (900 902 494) available to help consumers file claims in order to recover the money abusively charged by the banks. To date, OCU has helped resolve the doubts of more than 3,140 consumers via this service.