Mortgage Start-Up Costs Refunds

This topic contains 8 replies, has 5 voices, and was last updated by  Mark Stücklin 2 years, 7 months ago.

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  • #194265


    The mortgage ‘floor clause’ saga has been widely reported but I came across this article in El Pais in English –

    This suggests some or all of the hefty mortgage set up costs should not have been paid by the mortgagees and may be recoverable.

    This doesn’t seem to be widely reported or commented on: something for the site to run with?

  • #194278

    Mark Stücklin

    Yes, I’m on it. But well spotted, and thanks for the suggestion. Many people could be entitled to refunds of several thousand Euro, myself included. I’m organising a cross-border legal service to go after mortgage interest rate floor-clauses and mortgage set-up cost reclaims.

    Once again, thanks for being on the look out.

    Illegal or abusive mortgage interest-rate floor-clauses, and how to claim a refund if you have been overcharged

  • #195355


    Hi, Can you provide an update on how to go about recovering the mortgage set up costs. Have there been any successful claims so far?

  • #195360


    Also what about when you convert your mortgage from repayment to Interest only for a set period (in our case 2 yr I think), this happened to us when mortgage rates shot up in 2008 I think, we had to pay all the fees for changing and Insurance on top which they said was compulsive, I reckon this cost us €2500 which the whole point of changing to Int only was to reduce your mortgage costs, we didn’t realise about the insurance costs till after the signing at the notary.

    • #196006

      Mark Stücklin

      Marios I can’t answer specific questions on your case for a claim, but Del Canto Chambers offer a free evaluation if you’re interested.

  • #195454


    Grast66.  Mark’s comment 11 Jan. above mentioned setting up a legal service for this and ‘floor-clauses’ claims but the link still only seems to deal with the latter.  But you could make contact through that and see if they’re ready to process set-up claims.

    I just sent a two line letter to my bank saying in effect, in view of the recent Supreme court judgement I want my money back!  And sent them details of the costs incurred.  So far they’ve sent a long but ultimately bland acknowledgement saying they’re looking into it, giving themselves 60 days, which is as much as I expected.  Can’t do any harm.

    Good luck.

  • #195786


    My first mortgage was in 2004 does it go back that far? and since then we have topped the mortgage up twice so will that be covered as well?

    • #196007

      Mark Stücklin

      Yes, it does go back that far. To get a better idea of your case for a claim I suggest you fill in the form for a free, no-obligation evaluation from Del Canto Chambers.

      Spanish mortgage refund claims

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