If you live in Spain, then you must be familiar with the soil clause and the floor clause of your property. The soil clause is a kind of barrier that banks included in their mortgage loans. In the end this transforms the interest variable which has been agreed to fixed interest.
There are some banking establishments that leave such clause without removing them from the deed. This means that they try to prevent the affected party from filing a suit against them. That lawsuit will cause the judge to declare a null ground in his or her decision. This decision makes it possible to claim unduly paid interest.
Then you may also need to know the floor clause which is the minimum floor unit on your interest rate which might have been wrongly sold to you on your mortgage. If your mortgage agreement has the floor clause, that means your interest rate must have been capped.
Spanish lawyers are as qualified as lawyers in other countries. However, those who have resided in the country may have an urban legend on the horrors concerning property scams and rip-offs. For you to avoid falling into any pitfall, make sure to acquire a recommendation from a source you trust. It is also important to check the qualifications or seek for a law firm whose reputation has been established.
Getting a Recommendation from the Right Source
The best approach is to gather a personal recommendation from a person who has experienced what you are currently going through. If you don’t know anyone who has gone through your experience, it may be best for you to visit your preferred location and do a bit of research. You must also look for expats and find out if there is anyone who had a great experience with a certain law firm.
It’s not wise to look for recommendations from online forum sites. Forum users are not compelled to declare their true identity which makes it hard to figure out if the person is a concerned citizen or someone who has a personal interest.
When it is difficult to find a friend or an acquaintance who can give you reliable recommendation, this means that your original country’s local consulate can be asked for help. Find one which is closest to the region where you are buying a property and contact them and request for a list of recommended lawyers or law firms.
Check the credentials of the lawyers.
There are different areas of specialization for different lawyers. That is why it is important to check if the lawyer you have in mind is qualified for the property problem you are facing. You may also check sites that discuss cláusula suelo para empresas for more information.