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The Municipal Consumer Information Office (OMIC) is providing information and advice to consumers on the floor clause that applies to most of the mortgage loans they have signed.

Many neighbors who have come to consult their doubts, given the interest and timeliness of these issues among consumers, is why the OMIC has organized an informative talk under the heading "Land Clauses and Mortgage Spending", addressed to all Consumers affected or those who want to know and expand information on these issues, which will be held on Tuesday 7 March at 18.00.

In the classroom on the top floor of the Casa de la Radio Building (Paseo Villa Esperanza, 2. Torre-Pacheco), where we will also have the participation and collaboration of the ADICAE Consumers Association.

Consumers who want to know if they are applying floor clause should come with a copy of their mortgage loan deed.

What is the floor clause?

The floor clause is the denomination of a contractual provision that appears in the mortgage loan deed and that affects the interest rate revisions of the mortgages, it is a clause that harms the consumer since it prevents him from benefiting from the downgrades of the type of mortgage. Variable interest that is used as reference in your mortgage loan.

In December 2016 the Court of Justice of the European Union issued a judgment on the total retroactivity of the floor clause on mortgages, so that financial institutions must fully refund the money collected for the application of the floor clauses in mortgages and Which have prevented customers from benefiting from interest rate cuts.

Such was the scope of this judgment, that on January 21, 2017, the Government of Spain published in the Official State Gazette the Royal Decree-Law 1/2017 on urgent measures to protect consumers in terms of land clauses.

This Royal Decree regulates the extrajudicial complaint procedure for consumers, in which banks must establish a complaint system and procedure available to their customers.

From the OMIC of the Town Hall of Torre-Pacheco we are at the disposal of all the neighbors and consumers so that they can know and inform about the claims by clause soil, as well as for any other matter that may affect their rights as consumers.

Source: Ayuntamiento de Torre Pacheco