What´s happening in the Spanish mortgage market? [...]
It is no secret that after the financial crisis began [...]
This minimum interest clause has been widely applied in recent years to variable mortgage loans. The latter are meant to fluctuate with the Euribor rate set by the European Central Bank (at Euribor plus a one percent commission), yet the banks have circumvented this with clauses designed to establish minimum ‘floor’ levels at between 2.5 and 4 per cent.