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Offline TimeshareTalk

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The Judicare Group
« on: May 30, 2018, 08:33:54 »
Courts in Spain get tough on Foreign Currency Mortgages

Recent Court decisions in Spain have highlighted the fact that foreign currency mortgage problems are not limited to jurisdictions such as Cyprus where largescale problems have been incurred by borrowers in the Swiss Franc denomination and are currently subject to ongoing court Actions in Cyprus.

These rulings demonstrate that the Spanish Courts are also getting tough on foreign currency mortgages.

There have been a series of such Court cases in Spain, primarily through the Courts in Madrid against BankInter in relation to specific mortgage clauses within their mortgages that gave raise to losses by borrowers.

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A judgement by the Court of First Instance No 86 in Madrid issued on 22nd September 2017 involved a case against BankInter.