[Anonymous]

I wonder if someone might be able to advise me.

I instructed a spanish lawyer with offices in the UK back in September 2013 to act for me in getting the ground clause removed from my mortgage with Sabadell. I have emailed asking for updates but don’t get any response apart from,” it’s being dealt with and we will inform you when we have some news”. Is it normal to take this long? I have paid an upfront sum with another sum to be paid if they are successful.

Thanks

[Anonymous]

check out AUSBANK website – don’t pay anymore to your lawyer, the banks are all in court on this so IF there is a judgement you loan will be amended – don’t hold your breath – also, you did sign your agreement to this mortgage??

[Anonymous]

I have checked out the Ausbanc site and even e mailed them but they have no lawyers who speak English so it was a bit difficult. All I would like to know is whether anyone has any experience of placing the matter in the hands of a lawyer to deal with and whether the procedure usually takes this long. I do not have to pay anymore more money to the lawyers until or if they succeed in getting the clause removed as so many other people seem to have done.

As is usual when you take out a mortgage, of course the agreement was signed but, as has been decided by the supreme court, the agreements were quite often not clear enough and too much in favour of the banks. Why would you have thought otherwise??

[Anonymous]

Have you read this? Spanish mortgage collar clauses revisited

[Anonymous]

This is a lawyer’s take on the situation:

Problem is that lenders are ignoring the court’s ruling so there is now a class-action driven by AUSBANC on this. Banks are simply ignoring legal rulings on this. If they open the doors of the dam they will likely lose considerable money. So they are just stalling.

In truth it should be removed within a month.

[Anonymous]

Just to let you know that on Friday last I had an e mail from our lawyer attaching a letter from the Defensor Del Cliente stating that the bank will be removing the ground clause as from this month. I am not sure how much our mortgage payments will drop but every little helps.

[Author]

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