PP, PSOE and Ciudadanos have reached an agreement to force Spanish banks to return the amounts unduly charged by the mortgage floor clauses for free, retroactive, with interest and within three months.
This system of extrajudicial compensation , which will comply with the ruling of the Court of Justice of the European Union on opaque clauses , will be approved next Friday by the Council of Ministers in the form of a Royal Decree Law, and not as a code of good voluntary practices, as banking intended.
It is not our decree law, but it is a decree law that is for the benefit of consumers. This will be submitted to the Congress for ratification, with the aim of bringing it into force as soon as possible. The PSOE will abstain in that vote after the Government, which had previously guaranteed the support of Citizens, has included in its initial proposal a package of improvements that will consolidate “all the rights” of those affected, as announced on Wednesday the spokeswoman socialist Justice in Parliament, Margarita Robles, and Economy spokesman, Pedro Saura.
“It is not our decree law, but it is a decree law that is for the benefit of consumers.It will come into force immediately and will serve so that they can exercise their rights quickly, but without renouncing, if they so wish, to go to the courts, “Saura detailed 20 minutes .
These are the keys to demand the reimbursement of floor clauses.
Where and how is it requested?
The bank itself will have to contact and inform the injured party. The Royal Decree Law will force them to set up a voluntary mechanism at no cost to all their clients, who will “always” be able to take their case to the courts if they believe that their claims are not taken care of properly.
When can it be done?
The procedure will take effect the day after its publication in the Official State Gazette. The banks will have three months thereafter to resolve the files and deliver the amounts.
How will they make the return?
Through deposit in account . The amount will include interest accrued from the signing of the mortgage. Any other compensation proposal that the entity makes (amortization of the outstanding capital, for example) must be in writing. The affected party may assess it for a period of 15 days. If you accept, you will have to sign a separate document.
Will I have to pay the Treasury?
No. The amounts will be exempt from IRPF taxation whether there has been an agreement with the bank or if the client decides to go to court. Treasury will not apply late interest, surcharges or penalties in the event that this income produces excess rent in the scales used to calculate the bonuses for acquisition of primary residence, reform works or other deductible expenses.
Should I go to court?
Spanish and European justice have already given the reason to consumers . And, although the claims on soil clauses have a victory for whistleblowers, both consumer associations and political parties discourage them. “Everyone is entitled to do so, but the sentence can be delayed in time,” insists Pedro Saura.
Will I have to pay the costs if I lose my mind?
The regulations do not exempt – in general terms – entities from the payment of costs. “If the consumer obtained a more favorable sentence than the offer received from credit institutions, the judge may impose the sentence,” the PSOE details.
How many affected are there?
There are no official calculations. Rafael Catalá, Minister of Justice, estimated it in 1.5 million hypothetical files. The reclamador.es platform raises it to 3.5 million . The Bank of Spain estimates that the impact on the sector can reach 4,000 million euros.
Are banks prepared for the process?
BBVA, Banco Popular, Bankia or Caixabank have reserved millions of euros in their balance sheets to deal with this contingency . Others, such as Sabadell, deny that its clauses were opaque, the reason that led the CJEU to declare them illegal. Minister Catalá believes that the bank lacks “enough people” to resolve the claims within the established period.
What do consumer associations say?
Adicae considers that the agreement between PP, PSOE and Ciudadanos leaves “open flanks” that benefit the bank, although this includes the majority of its claims . The OCU fears that it is the bank who really decides “who and how much they charge” of the amounts due for the floor clauses.