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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche. www.costaluzlawyers.es

Legal tip 80. Ask your Bank to correct your interest rates!
Tuesday, May 5, 2009 @ 3:27 PM

 If you have got a mortgage loan with reference to the Euribor index, you have got the right to ask your bank to addapt the interest rate according to lower money prices offered  by the European Central Bank.  Just in case they forgot to do it!

 

By Maria L. de Castro

web@costaluzlawyers.es

www.costaluzlawyers.es

 

Conil, Cadiz, Andalucia by Flidolin at Flickr.com



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Mark said:
Friday, May 8, 2009 @ 1:23 PM

Our mortgage is with Solbank in Mallorca, the payments are recalculated every September so at the moment we are paying a high interest rate (rates at Sept 2008) compared to the current Euribor. I estimate this is costing €300 a month more than it would with current rates. Is there anything we can do to have Solbank review the interest rate?

Thanks

Mark

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Maria
Lawyer. Director of the Costaluz Lawyers team. Useful legal tips for an easy way in Spain. www.costaluzlawyers.es



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