BBVA MORTGAGE ELIMINATE YOUR NEW FLOOR AND ROOF SECTIONS
establishing minimum and maximum limits when moving the interest rate.
BBVA's decision comes after the Commercial Court ordered Sevilla No. 2 to this entity, and Caixa Galicia Cajamar remove 'ground provisions' of the variable-rate mortgage contracts. The execution of the sentence pronounced them "abusive" and the three entities have appealed the decision.
Despite the removal of these clauses have opposed the provisional execution on the grounds that legally does not fit and confident that the District Court revoked the sentence, " indicated from BBVA.
According to BBVA, "these clauses are perfectly legal in our legal system have been applied with absolute normality for almost twenty years."
Cajamar have also eliminated those provisions and offer a new mortgage for house purchase, with no floor or ceiling, a starting interest rate of 4.25% and a linking bonus of 0.75%.
Experts consulted by Europa Press warned that the decision of the court of Seville adjust a private contract between the bank and its customers, but not be part of the cause, and if the sentence is revoked, the client must face a special payout.
emphasize that the ruling also questioned the legal security of the English mortgage system, which is a regulated activity and has spent many years working efficiently for the parties.
addition, the removal of these conditions on future mortgage credit more expensive for the life of future loans and not enter into force only when the soil.
"If this insecurity makes it difficult for private equity in savings, these same taxpayers will pay the defect of capital generated by court of its kind", highlight the experts.
also point to the possibility that the failure to produce the restriction of access to housing and deepen the crisis in the housing sector. The average mortgage customers with soil is close to 3%, which compares very favorably with the costs of financing the State's own banking and English.
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