Olive Press newspaper interview with Diego Echavarria

Olive Press newspaper interview with Diego Echavarria

Olive Press reporter Katherine Brook sat down with one of Spain’s best lawyers, Diego Echavarria, to discuss how he’s helped over 50 people who were victims of the floor clause claim back hundreds of thousands of pounds, as well as what problems Brits are currently facing in the country. Tell us a bit about yourself Diego? I was brought up in Madrid, which is where I studied to become a lawyer, splitting my time between there and Germany. I moved to Marbella in 2001 and then set up my own company, Fairway Lawyers, in 2006. Why Marbella? I specialise in being an English speaking lawyer, and Marbella’s a great place […]

Expat buyers in Spain are scooping €50,000 and more after Fairway Lawyers crack compensation route in floor clause mortgages

Expat buyers in Spain are scooping €50,000 and more after Fairway Lawyers crack compensation route in floor clause mortgages

‘ABUSIVE’ MORTGAGE FLOOR CLAUSES SPAIN: Are you entitled to compensation plus interest – even if you have sold your property and paid off the mortgage? They had taken out the mortgage through Bankia in 2004. The villa in Mojacar, Almeria, was the home they had always dreamed of buying for their regular trips south for the weather. With its sizable garden and sea views, it was the perfect place to unwind during the hard winters of northern England. But the Thompsons, like so many buyers who took out mortgages in the happy days between 2002 and 2009, soon found out that their mortgage was not fairly setup. While initially the […]

Decision day for the one million floor clause mortgages in Spain that may have paid an average of €25,000 too much

Decision day for the one million floor clause mortgages in Spain that may have paid an average of €25,000 too much

This week, finally, Spain’s Supreme Court will rule on mortgages that were linked to an IRPH rate, more than six months after Europe left it to the Spanish judges to rule on their legality or lack of transparency. While the standard Euribor rate has been negative since February 2016, the mortgages linked to the IRPH have been paying interest at around 2%. It is estimated that the average cost of overpaid interest payments to these clients could be around 25,000 euros each. The Supreme Court validated the use of the IRPH in 2017, but Court number 38 of Barcelona raised a preliminary question to Europe to enquire about the control […]