The Supreme Court ratifies the nullity of the minimum limit clauses of mortgages even if they benefit the customer.
The Supreme Court has ruled a decision after the clarification demanded by BBVA, Novacaixa Galicia and Cajamar on the decision dated May 9th that declared the nullity of these clauses in those cases with a lack of transparency.
The Supreme Court has clarified today that that these clauses are void even if the client benefitted “for a certain period of time” from descents in the Euribor, and that it is enough if they do not comply with one of the transparency requirements detailed in the previous sentence.
This ruling also declares that simple “formalities with no efficiency” such as the reading out of the agreement by the notary public” cannot substitute the ”perfect understanding” of all terms within the contract, which is indispensable for a customer to decide whether they sign or not their mortgage agreement. (…)