Mortgage “floors” abolished by Supreme Court

The Supreme Court has ruled that mortgage”floors” are illegal and must be removed from all mortgages, unless they are an integral part of a complex financial package. Millions of people with a mortgage in Spain taken out in the last couple of decades look to see their monthly payments drop substantially! The idea with mortgage floors is that the amount of interest on your mortgage can never drop below a certain amount. Lets say you Continue reading Mortgage “floors” abolished by Supreme Court