Tag Archives: cajasur

Mortgage “floors” abolished by Supreme Court

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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→

Cajasur slips beneath the surface… only a few bubbles left

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Normally, when a bank collapses, you hear a lot about it. TV images of people queuing to get their money out. Maybe a riot. Not, however, over the weekend when Cajasur, the savings bank owned and operated by the Catholic Chuch in Cordoba, quietly gave up the ghost after, amazingly, walking away from a rescue deal offered by Unicaja. Madrid quietly shut off the life support machine on Saturday, and a few grieving relatives had Continue reading Cajasur slips beneath the surface… only a few bubbles left→