A judgment of the Plenary of the Civil Chamber of the Supreme Court has ruled on the economic effects of the declaration of nullity of the expense clause of mortgage loans between banks and consumers. The high court rules that the appraisal expenses, when Law 5/2019, of March 15, regulating real estate credit contracts, is not applicable to the bank and not to the consumer.
This ruling by the Supreme Court was missing to know what the distribution of mortgage expenses is. The ruling refers to all those mortgage contracts prior to the last law that regulated this type of loan, approved in 2019. Since then, most of the expenses incurred in the formalization of these contracts fell on the banks .
From Asufin they have celebrated this sentence, which establishes that 100% of the expenses can be recovered. “We celebrate that the Supreme Court finally settled the distribution of expenses and, this time, in favor of consumers,” he said. Thus, clients will be able to recover management, notary and appraisal expenses. They regret, yes, that the client to whom the sentence refers has had to wait seven years to recover 1,335.89 euros plus interest. “We call for financial institutions to return these amounts to their clients without having to go to court,” they underline.