Calculate the Spanish Mortgage With and Without Floor Clause


Anti Rip-Off Mortgage Calculator for a Spanish Mortgage With and Without Floor Clause

Hello Mortgage Holders of BBVA, CaixaBank & Co.,

hi, my name is Rainer Wiesehahn. I am a lawyer in Mülheim / Ruhr in Germany living in Dortmund and in Sant Feliu de Guíxols on the Costa Brava. Sorry for my English. My first language is German.

The Spanish Supreme Court declared on 9th May 2013 that the minimum interest rate, also called Floor Clause, applied by several defendant banks, namely BBVA, Cajamar and Novacaixagalicia, were null and abusive, if transparency requirements had not been met in their mortgage contracts.

"Supreme court ruled in favour of clients in mortgage floor cases" - The Corner

Therefore all mortgage contracts with a floor clause "hidden" in an overwhelming mass of information are affected by the Supreme Court´s ruling.

This means your Spanish bank has to revoke these illegal clauses in order to comply with the Supreme Court´s ruling.

Without that illegal minimum interest rate (floor clause) your Spanish mortgage will be cheaper. Mortgage holders in Spain can save between 60 euros to 200 euros on their monthly mortgage payments, and could save up to 1,000 euros a year.

The Mortgage Calculator below shows Mortgage Holders in Spain the following details:

  • How much you will pay less every month without the scammy Floor Clause,
  • the total of all interest rates with floor clause,
  • the sum of all interest rates without floor clause and
  • how many euros you would have saved only paying the variable interest rate

Mortgage Loan Amount * 

Interest Rate with Floor Clause * 

Interest Rate without Floor Clause
only Euribor + "Diferencial" * 

Loan Term in Years * 

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Legal Note:

Your Spanish mortgage bank is only obliged to revoke abusive and null floor clauses. You must study your Spanish mortgage contract very carefully to know wether your minimum interest rate is illegal or not.

If this is too labour-intensive for you, please e-mail us your mortgage contract.

Sending an e-mail with your computer E-Mail Software

As the calculations are the result of the data you inserted, we cannot exclude errors and miscalculations.

The results of of the mortgage calculator have only informative character. You will get exacter calculation results if you consult a Law Office specialized in Spanish Bank Law or a Spanish Consumer´s Rights Organization.