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About Fairway Lawyers

English, German and Spanish speaking lawyers/abogados serving Spain's Marbella, the Costa del Sol, Granada, Antequera and inland Andalucia. Tel: Telephone +34 952 77 11 50 or email: diego@fairwaylawyers.com If you have a matter that requires immediate attention please contact Diego Echavarria +34 606 307 885 (mobile)

Mortgage floor clauses in Spain: Key aspects of the Supreme Court ruling

Mortgage floor clauses in Spain: Key aspects of the Supreme Court ruling

Spain’s Supreme Court, in a Judgment of May 9, declared the nullity of the floor clauses in the mortgages of certain banking entities due to lack of transparency. What is a floor clause? When you go to a bank to apply for a mortgage loan, you tend to analyse what interest rate (fixed or variable) is the one that may be most convenient when paying the bank for the different instalments. In the fixed-rate, the same instalment will always be paid from month to month. In the variable rate, the instalments to be paid usually consist of the application of a reference index set by the European Central Bank (normally […]

Door opened for a million ‘floor clause’ mortgages in Spain on ‘abusive’ IRPH rate to be cancelled

Door opened for a million ‘floor clause’ mortgages in Spain on ‘abusive’ IRPH rate to be cancelled

One of the top legal advisers in the European Union has said that about one million mortgages sold in Spain on a different type of rate to the standard Euribor can be subject to judicial review. The rate being questioned is known as the IRPH (mortgage loan reference index) and is an alternative offered to customers of banks when buying their property. It is a national average of the cost of mortgages over a period up to three years, meaning it is less variable than the standard Euribor. However, homeowners complain that while Euribor rates plummeted in recent years, the different way of calculating IRPH keeps their loans higher. Many […]

Spanish mortgage victory leaves British couple with €15,000 in their pockets thanks to bank compensation payout

Spanish mortgage victory leaves British couple with €15,000 in their pockets thanks to bank compensation payout

Once upon a time a happy English couple (let’s call them the Smiths) who worked very hard in Birmingham all their lives dreamed of buying a property in Spain. One day they decided they had ‘had enough of rain, beer and fish and chips’ and decided to come to Spain to change it for sun, sangria and paella. But they were not 100% sure about it… it was, after all, a big move in their lives, but you only live once, so they booked their flights to Spain. They fell in love with Spain at first glance and their people and agreed to go ahead with the purchase of a […]

European Court wades into Spain’s mortgage crisis

European Court wades into Spain’s mortgage crisis

With a ruling that left both banks and consumers claiming victory, Europe’s highest court waded into a legal dispute in March over allegedly unfair home mortgage plans Spanish banks used during a housing boom that imploded with the 2008 financial crisis. The European Court of Justice found that clauses Spanish banks used in adjustable interest rate mortgages may have been abusive. But it stopped short of issuing a blanket rejection of the mortgages and told Spanish courts to examine them on a case-by-case basis to see if consumers clearly understood what they were signing up for. Some housing advocates called the ruling a win in their long-running campaign against banks […]

Family reunification for foreigners in Spain

Family reunification for foreigners in Spain

Spanish immigration law recognises the right of foreigners legally resident in Spain to reunite their families. This article summarises the general conditions required to exercise this right. Who can reunite their family members? Foreigners who have been living legally in Spain for a year and have obtained authorisation to stay at least one more year. To reunite ascendants, the foreigner must be a longterm resident in the country. Those who can also reunite their family, without previous legal residence, include: holders of an EU long-term residence permit in another Member State of the European Union, holders of an EU blue card, or beneficiaries of the special regime for researchers. Which family […]

How can I get legal documents if I am illegally in Spain?

How can I get legal documents if I am illegally in Spain?

If you are in Spain without any type of permission, you could obtain it through ‘Arraigo’ permits based on extraordinary circumstances without going out of Spain. It is a benefit offered by our legislation to foreigners who meet certain conditions in order to acquire a residence and work permit, among them, the most important reasons are the following: 1. Social ties 2. Economic ties 3. Family ties 4. International protection and humanitarian reasons 1. PERMIT BASED ON SOCIAL TIES According to Spanish legislation any foreigner illegally established as a resident in Spain, can apply for a residence and work permit. The required periods of time are different according to the […]

BREXIT: All you need to know… but were afraid to ask!

BREXIT: All you need to know… but were afraid to ask!

Back in January 2020 the EU Council and the United Kingdom signed and ratified the Brexit Withdrawal Agreement, which contains the highlights regarding how the Brexit affects nationals of the parties who are living in the UK or in the EU territories. In general terms, the said agreement laid down a transition period whereby the things shall basically stay as they are, in order to enable people to make decisions and take measures on time. That is, the transition period buys time in order for those affected (EU citizens who want to stay in the UK and UK nationals who want to stay in the EU) to get the paperwork […]

The process and tips to request a self-employed work permit in Spain

The process and tips to request a self-employed work permit in Spain

Here we describe the procedure and explain the required documentation and some practical advice that might be helpful to you for succeeding in being granted a self-employed work permit in Spain. Tips Prior to requesting an authorisation and incurring a series of expenses, it is highly advisable to visit the country and get to know the city and the sector of activity that you will be undertaking and develop some contacts with persons who could assist you in establishing, developing and carrying out your business and who can help you to focus on the activity you will carry out. Have a good project or business that will be able to create revenues […]

How to obtain a residence visa for non-lucrative purposes in Spain

How to obtain a residence visa for non-lucrative purposes in Spain

To obtain a residence visa for non-lucrative purposes in Spain, it is not necessary to invest in the Spanish economy. Instead, the decisive factor for approval of the residence request is a regular influx of monetary funds into your bank account from outside of Spain or have financial resources sufficient for the period of residence that is being requested. According to the Spanish Law, all foreign residents who plan to stay in Spain for a period exceeding 90 days per year without engaging in any kind of professional activity can qualify for a non-lucrative residence in Spain. The visa processing times can range from 20 days to several months (and […]

Spanish government launch new process for UK citizens who still have to register their residency in Spain

Spanish government launch new process for UK citizens who still have to register their residency in Spain

The UK’s exit from the EU took place on 31 January 2020 and the terms of the departure are defined in the Agreement on the withdrawal of the United Kingdom from the EU negotiated by both parties. The Withdrawal Agreement entered into force on 1 February 2020 and provides for an orderly departure of the UK from the EU. To this end, the Withdrawal Agreement foresees a transition or implementation period which expires on 31 December 2020. Residence rights are regulated in Title II of the Withdrawal Agreement. It should be kept in mind that registration certificates and residence card to family members of a Union citizen obtained before the […]