Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain's Sabadell sees up to 490-mln-euro hit from mortgage floor contacts

Source: Reuters - Mon 23rd Jan 2017
Spain's Sabadell sees up to 490-mln-euro hit from mortgage floor contacts

Spain's Banco Sabadell said on Monday it expected a one-time hit of up to EU490 Mln from a ruling that obliges banks to reimburse customers sold mortgages with interest rate floors which have since been ruled illegal.

The bank added that it would fully provision against the possible impact of any claims on 2016 earnings.

On Friday, the government approved a new law which gives lenders three months to reach a settlement with customers which had been sold the mortgages. Banks are accused of not adequately flagging the mortgage floor clause to customers.

Recommended Reading :

* Government opposition reach deal deal on floor clause refunds for mortgage holders

* EU orders Spain's Banks to repay all earnings from abusive mortgages

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs

Use the hair extensions pretty curling styling spray to evenly spray on the hair wigs part that wants to highlight the hair extensions uk curl, then use the curling iron to start at the horizontal line behind the ear, and the human hair extensions uk single layer is rolled, and the handsome yet playful hairstyle is born.