Mini-guide: Understanding abusive clauses in Spanish mortgage contracts
In Spain, the prevalence and impact of abusive clauses in mortgage contracts have been a significant legal issue, impacting a vast number of consumers.
In Spain, the prevalence and impact of abusive clauses in mortgage contracts have been a significant legal issue, impacting a vast number of consumers.
The Spanish Government, led by Héctor Gómez, Minister of Industry, Trade and Tourism, is at the forefront of a significant movement within the European Union (EU) to address British homeowners’ challenges post-Brexit.
Transforming a property into a lifetime annuity in Spain presents a valuable opportunity, especially for those over the age of 65, to maximize their financial assets and ensure a steady income during retirement. This strategy is financially prudent and comes with substantial tax benefits.
In the dynamic world of global investments, Spain stands out as a premier destination, particularly in its luxury real estate market. Amid economic oscillations, this sector not only remains resilient but continues to attract a sophisticated cohort of Ultra-high-net-worth individuals (UHNWIs).
In light of the growing trend of foreign property investments in Spain, particularly in provinces like Alicante, Málaga, the Balearic Islands, and Santa Cruz de Tenerife, CostaLuz Lawyers offers comprehensive legal support for each stage of your real estate transaction.
The case revolved around a client’s dispute with a bank regarding their revolving credit card agreement, which stipulated three different interest rates (29.32%, 28.32%, and 26.07%) based on the nature of the transaction.
The crux of the CJEU’s decision lies in the judicial scrutiny of early repayment clauses in consumer credit contracts. These clauses, often seen in mortgage agreements, allow lenders to demand full repayment of a loan before the agreed term under certain conditions.
Recently, Mapfre and Santander have announced the launch of their much-anticipated reverse mortgage product, a financial solution designed to provide seniors with a steady income stream based on their home equity.
Mortgage novation is the process of renegotiating and changing the terms of an existing mortgage loan with your current lender. This is typically done by modifying the original contract through an agreement reached with the bank and formalized in the presence of a notary.
Registry conciliation is a process where registrars, who are officials responsible for maintaining property, commercial, or other public records, assist parties in settling their disputes outside of the court system. This process is part of an effort to reduce the number of cases brought to court.
Spain’s aging population has brought about significant demographic changes, making the role of notaries in safeguarding the rights and legal security of the elderly increasingly important.
Gain a comprehensive understanding of the legal landscape surrounding tourist accommodations. Stay informed to navigate the intricacies of the evolving regulations in this dynamic region.