A new jurisprudential pronouncement opens the door to freelancers and entrepreneurs in order that they may reclaim the amounts paid as a result of the application of the floor clauses included in their mortgage loans.
Claims for the refund of amounts overpaid as a result of the imposition of so-called floor clauses in mortgage loans were being rejected in cases where the borrower was a non-consumer, i.e. when the claim was brought by self-employed, professionals or entrepreneurs.
However, a recent Supreme Court ruling (168/2020) has turned this question on its head. upholding the invalidity of the floor clause in a mortgage loan granted to a self-employed personThe court ordered the lender to repay the sums paid in excess of the amount due.
Although each case will have to be studied to determine the viability or otherwise of the claim, we believe that this new jurisprudential pronouncement is very good news for this sector, as it opens the door for the self-employed and entrepreneurs to claim the amounts they have paid in excess as a result of the application of the floor clauses imposed in their mortgage loans.
