Spanish Banking Law

Do you need to make a claim against a bank or financial institution?

Spain has a legal structure governing the banking and financial services sector. This is a body of administrative law and the legal framework incorporates rules and regulations on the control and financing of banks. An important part of the legal framework is the Ley Hipotecaria which is essentially Mortgage and Land Law incorporating the registration of property and inscription and execution of mortgages.

In recent years consumers in Spain have had to make claims against the Clausula de Suelos – a floor or base rate clause – which some banks used to peg interest rates on mortgages above the permitted percentage over Euribor.

There have been a number of other financial products and services provided by banks which have caused losses such as currency exchange mortgages; sale of preferential shares and illegal mortgage foreclosures. Some claims can allow for a particular mortgage clause to be annulled whilst continuing with the financing if that is the best route to take.

Where clients are not able to continue with a mortgage they can surrender the property directly to the bank – dación en pago – if that is the best option and avoids being pursued for the negative equity. If a mortgage foreclosure is commenced on your principal residence the bank have to negotiate a solution and we can assist with this.

We have a specialist in all aspects of banking law with experience in settling claims both by negotiation and by court action. For more information or a private consultation call us on 01924 675039 or email on

Contact Us Today

Contact Sarah Waddington Solicitors today by calling us direct on 01924 675039 or emailing us on Alternatively Send us a message and one of our professional team will be in touch with you shortly.

Remember, there is no obligation to instruct us so contact us now for your free consultation.

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