In this interview, mortgage law expert Antonio Muñoz explains the keys to understanding and claiming mortgage expenses, regardless of whether the mortgage has already been fully paid.
Today we have the presence of Antonio Muñoz, a prominent lawyer specializing in mortgage law and managing partner of Munoz Abogados law firm with offices in Madrid, Toledo, and Ciudad Real. Antonio and his team of professionals, with over 20 years of experience, are always focused on the client, offering top-quality service in resolving financial and banking law cases.
At Munoz Abogados, Antonio and his team represent clients from across Spain, helping them recover their mortgage expenses. With the recent Supreme Court ruling, following the criteria of the Court of Justice of the European Union, the issue of recovering mortgage expenses has become more relevant than ever.
This interview is especially important for all consumers seeking to understand their rights and possibilities to claim mortgage expenses. Antonio will explain in a clear and approachable manner everything we need to know about this crucial topic.
Question. What is the current situation regarding the recovery of mortgage expenses?
Answer. Currently, the Supreme Court and the Court of Justice of the European Union (CJEU), in their recent rulings, have extended the deadline for claiming mortgage expenses indefinitely for most consumers.
This means that the deadline to claim the refund of mortgage expenses starts from the moment the consumer is legally aware that the clause is abusive, and the best time to know this is when a judge declares it.
Q. So, what does this mean for consumers?
A. Basically, this new Supreme Court ruling opens the door for consumers to claim mortgage expenses from older mortgages, without a time limit, regardless of whether they have already been fully paid.
Q. What mortgage expenses can I claim? Who can claim?
A. The case law is clear in this regard; consumers can recover 100% of agency, appraisal, and registration fees, and 50% of notary fees. Additionally, legal interest applies.
It is important to note that in Spain, around eight million consumers can claim these expenses, with an estimated average recovery amount between 1500 and 3000 euros. This opportunity is available for those who signed a mortgage before June 2019.
Q. This seems very positive. How can consumers claim mortgage expense refund? And how can Munoz Abogados help us in this process of claiming and recovering mortgage expenses?
A. The process is quite simple, and our firm takes care of everything; our specialized banking law team studies the necessary documentation to assess the viability of your case for free and with no commitment; if any documentation is missing, we will guide the client on the steps to obtain it.
Once the documentation is reviewed and everything is in order, we initiate the process; first, we send a pre-claim to the banking entity, and if it does not succeed, and the bank does not voluntarily pay the claimed amounts, or delays in responding, we start the judicial process.
The client will be fully informed of the process, without having to worry about the processing, and only needs to wait for the refunded expenses to be credited from the banking entity.
Q. How much money do consumers typically recover in these claims?
A. On average, consumers can recover around 1500 euros, although in some cases, it can go up to 3000 euros. You can claim 100% of registration, agency, and appraisal fees, and 50% of notarial expenses.
Q. What experience do you have with mortgage expense recovery?
A. To date, we have been helping consumers for over 15 years, claiming nullity and refund of abusive clauses in mortgages, floor clauses and mortgage expenses mainly, with over 7000 judicial procedures, recovering more than 7.5 million euros in total.
Q. How much do you charge in your office to assist in the processing?
A. The feasibility study of the case and the calculation of recoverable amounts are completely free and do not entail any commitment for the client.
To start the claim process, the client does not have to pay any amount; all expenses are covered by the law firm. To date, we have managed more than 7000 judicial procedures, recovering over 7.5 million euros.
In fact, as of today, 100% of the clients who have completed the judicial process with us to claim mortgage expenses have not paid anything, the process has been completely cost-free for all clients. It is only necessary for individuals to contact us through our website in the section dedicated to Recovering Mortgage Expenses, and our advisory team will assist them throughout the entire process.
Q. In conclusion, it is important as consumers to be well-informed about our rights and know that we can rely on experts like the Munoz Abogados team to guide us through all processes, and remember that we can always seek professional advice to ensure we make the best possible decisions. Recovering mortgage expenses is not only a right but also a way to protect our assets. Contact a Mortgage Expense Lawyer for the necessary support; now is the time.
