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 […]

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 […]

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 […]

VIDEO: British Ambassador and Spain’s Secretary of State for Migrations send a joint message to UK nationals in Spain

VIDEO: British Ambassador and Spain’s Secretary of State for Migrations send a joint message to UK nationals in Spain

One week on from the introduction of a new residency document for UK nationals protected by the Withdrawal Agreement and some changes to the application process, HMA Hugh Elliott and Secretaria de Estado de Migraciones (Ministerio de Inclusión, Seguridad Social y Migraciones) Hana Jalloul recorded a joint message for UK nationals living in Spain. The Ambassador and Minister acknowledged the many questions from UK nationals about the new system and sought to provide clarity and reassurance. They were clear that the green residency certificate (whether A4 or credit card-sized) remains valid proof of residency status and rights under the Withdrawal Agreement, even after the end of the transition period. Speaking […]