Mortgage Floor Clauses

  • There are approximately 319,000 British expats currently living in Spain who make up 21% of the Spanish foreign property buyer's market.
  • However, 2.5 million Spanish mortgages contained a hidden clause which unexpectedly capped minimum repayments above the interest rate advertised.
  • Read on to find out how to discover if you're affected and what you can do about it.

Certain tracker mortgages advertised interest rates as being based upon the centrally set EURIBOR interest rate.

However what homeowners were not told, is that their mortgage contained a ‘floor clause’ or ‘clausula suelo’ which capped the minimum interest rate in order to protect banks from negative interest rates.

This meant that after the initial fixed rate introductory period, mortgage payments rocketed and many homeowners were forced to pay thousands of euros more than expected.

Our service

Due to the complex nature of this type of claim it is very difficult to handle by yourself. Our team has years of experience in handling financial mis-selling claims and have recovered millions of pounds in compensation for our clients.

Hidden Cost

The clause is thought to add an extra €3,000 a year to mortgages making the average claim €9,000.


It's estimated that 90% of Spanish evictions are the result of hidden floor clauses.

Ruling Anticipated

A ruling from the EU this year is expected to determine whether mortgage holders can claim back further than 2013.

No Win - No Fee

Successful claims made through Claims Right a trading style of The Claims Bureau Limited are subject to a Success Fee. The success is charged at 25% plus VAT of any monetary compensation awarded to the claim. Clients have a 14 day “Cooling-Off” period during which time they may cancel at any time without charges. After this time, cancellation will result in the application of the Cancellation Fee. If we have already submitted your claim, which results in an offer of compensation subsequently being made, we will charge our full fee as per our Terms of Business – our fee is 25% + VAT. See Terms of Business for details.

Your Details

Claim Details

Claims Right a trading style of The Claims Bureau Limited who are a claims management company. You do not have to use our service as you are entitled to make a claim yourself for free, either to the person against whom you wish to complain or to the relevant statutory ombudsman (The Financial Ombudsman Service or The Pension Ombudsman Service), or the statutory compensation scheme (The Financial Services Compensation Scheme) if it falls within their remit, providing where applicable you have approached the company in question first.

Get In Touch

Do you have questions? Please fill in the form and we'll get back to you.

Contact Address

Suite 4, Anchor Springs,
West Sussex BN17 6BP

P: 01903 868251

Privacy policy


Your Message was sent successfully

Your Message was not sent successfully