Let’s explore some of the common practices in the mortgage world that could be negatively impacting your long-term finances, as you may have been charged mortgage clauses that are abusive banking practices and should never have been charged. Some of these are:

1. Floor Clause

The floor clause is a significant concern for many homeowners, limiting the reduction of monthly payments in a variable interest type mortgage even when market interest rates fall below a certain threshold. At KIPOS LEGAL, we work to ensure that your interests are fairly represented in every aspect of the mortgage process.

2. Mortgage Expense Clause

The transfer of all expenses associated with the mortgage to the consumer can result in an unfair financial burden. At KIPOS LEGAL, we commit to examining these costs thoroughly and ensuring they are equitably allocated among the parties involved.

3. Opening Commission

The opening commission may be an initial charge that may seem unjustified, specially when it does not respond to a real service or it is overpriced. At KIPOS LEGAL, we strive to ensure that each charge is transparent and justified in relation to the services provided.

4. Late Payment Interest: Avoiding Excessive Charges

Late payment interest can represent an additional financial burden in case of mortgage payment delay, especially if you have an usurious and disproportionate late payment interest clause. At KIPOS LEGAL, we work to prevent our clients from being affected by excessive charges and ensure that their financial rights are respected.

5. Other Abusive Clauses in the Mortgage

Whether in foreclosure or in the collection of your installments, it is very possible that you have overpaid and unfairly in the contracting of your mortgage loan. Consult us to analyze how many abusive clauses your mortgage deed contains and recover as soon as possible what has been paid under an abusive clause.

Protecting Your Interests – What Documentation Do I Need to Claim?

Mortgage Loan Deed: The notary document containing the mortgage, this is likely to be the mortgage loan agreement or a subrogation in mortgage loan.

Proof of Payment: In the case of wanting to claim mortgage expenses, it is advisable to have the breakdown of expenses that the management company made to the bank. However, in this case as well as in floor clauses, commissions, and others, it is possible to request this documentation from the bank both inside and outside the court.

Legal Advice: Consider seeking specialized legal guidance to evaluate your options and determine the best course of action.

Personalized Claim: At KIPOS LEGAL, we offer a personalized approach for each claim, based on the documentation provided and the specific circumstances of each client.

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