Do you have a mortgage in Spain? Take our two-minute test to see if you’re owed money by your lender

Forget the coronavirus… there is something almost as bad for many homeowners in Spain.

Let’s call it the BANKING PANDEMIA, or the Floor Clause illness, also known as the ‘Clausula Suelo’ or ‘Suelo Hipotecario’.

This was simply a clause that was inserted into variable rate mortgage agreements in Spain during the last 20 years that affects the interest rate payable on the mortgage.

And it means that mortgage holders are being conned and do not benefit from the fall in the EURIBOR as there will be a minimum rate of interest payable on the mortgage (this floor, also known as a ‘suelo’ is often 3- 4% depending on the bank).

While this clause has been deemed illegal by both the Spanish and European courts, it is estimated that there are more than 3.5 million mortgages in Spain affected.

Worse, there is no vaccination forecast for the owners and the only way to eradicate the clause is to claim and sue the banks and lenders.

Given that many people are stuck at home with little to do in these days of the Covid crisis, Fairways Lawyers want you to undertake this simple quiz that takes two minutes.

  • Did you buy a property and arrange a mortgage with a Spanish bank during the ‘happy years’ of 2002 to 2012? YES / NO
  • Did you take over the mortgage offered by the developer if your property was bought off-plan? YES / NO
  • Did you notice your interest rate and your mortgage rate have not come down alongside global drops in interest rates? YES / NO
  • Are you still paying the same interest rate (3-4 %) over the last few years without any change?
  • Have you asked your bank manager about your mortgage payment and have not got any answer yet? YES / NO
  • Did you have a fixed mortgage rate during some years and then it changed to a lower amount? YES / NO
  • Have you checked your latest mortgage statement and seen an interest rate above 25? YES / NO
  • Is your mortgage rate referred to EURIBOR rate? YES / NO


1-3 YES answers: You may have been affected in the past by the FLOOR CLAUSE, and maybe the bank has taken off the floor clause and you were not aware of it. It is worth a closer check of your mortgage.

4-5 YES answers: You have a floor clause inserted in your mortgage and you have been overpaying interest over the last ten years. Your bank is squeezing you like a LEMON. Claim for your refund.

5-7 YES answers. The bank or lender owes you money. It can be a huge amount of money; this is not a JOKE.

Note: If you had a mortgage in Spain and it has been paid off, you are still entitled to claim if the last payment was carried out as long ago as 2016. There is a five-year term for claiming since the last payment of the mortgage was paid.

Please do not hesitate to contact us for a FREE consultancy. Please bear in mind that we work on the basis of NO WIN NO FEE. Please take a moment to check your mortgage statement and send it to Diego by WhatsApp on 606 307 665 or by email to




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: If you have a matter that requires immediate attention please contact Diego Echavarria +34 606 307 885 (mobile)