No Win No Fee for floor clauses

28th March 2017

We have helped many clients in recent weeks with obtaining refunds in relation to the overpayments made due to the inclusion of a floor clause in Spanish mortgages. We are now offering a No Win No Fee scheme for new clients with a floor clause in their Spanish mortgage. Despite recent pressure from all quarters, […]

Latest record Spanish tourist figures

16th January 2017

The Ministry of Energy & Tourism in Madrid has confirmed the official tourist figures for 2016. For a seventh year in succession it has been a record year for tourists visiting Spain. In 2016, 75.3m visitors came to Spain. This is an increase of 7.2m from 2015, representing a rise of nearly 10%. The well-documented […]

Off plan property purchases

29th September 2016

A new hope for the buyers of off-plan properties in Spain The Spanish Supreme Court has issued a Judgement, and thus set a legal precedent, by which the banks of the developers who did not complete properties bought off-plan during the 2000s must refund the buyers who advanced funds. After the burst of the construction […]

New mortgage settlements

26th September 2016

  RDT Abogados continue to work on many clients´ behalf in negotiating mortgage settlements with Spanish banks. Recent successes include; Lender: Sabadell Location: Murcia Outcome: Sale with write off of the debt (“Quita”)
The client had a mortgage debt of approximately €320,000. The market value of the property was €205,000 a buyer was found and the […]

Spanish Mortgage Settlements: Issues & Disputes

23rd September 2016

When there are only a few months for the year 2016 to get to an end, the Spanish legislator in spite of its repeated promises has not yet amended comprehensively the mortgages regulation. For the last five years the mortgagees and the banks have been blaming each other of the high number of defaults in […]

Spain´s back on track

29th August 2016

  The latest news from Spain regarding macroeconomics and other, related to the first semester of the current year, has left a wave of optimism in a country which only months ago was trying to avoid being rescued by the EU financial authorities. The severe measures implemented by the Government in the last four years […]

TOURIST CAR REGISTRATION

22nd June 2016

 2.1 CONCEPT Tourist Car Registration allows visitors to Spain to drive around the Spanish national territory for periods of time longer than 3 months.  Having a temporary Spanish Car registration means you also qualify for local Car insurance in Spain. This registration was linked to the tax benefits of the temporary importation procedure, a situation that has changed since the incorporation of Spain into the European Union, the tax treatment varies depending on whether the beneficiary has his residence in any other country of the EU or in countries outside the Union. The characteristics of this registration are: Own and distinct from the ordinary numbering. It is a temporary registration Enjoy the exemption from excise duty on certain means of transport, which in some cases can reach 12% of the value of the vehicle.      PERSONS ENTITLED TO TOURIST REGISTRATION  Private individual residing abroad who: Are not engaged in gainful activity or personal services in the Spanish territory. Use the vehicle for personal use, this rule […]

Mortgage Settlements Update

25th May 2016

Lender: Bankia Location: Murcia Outcome: Sale with write off of the debt (“Quita”) The client had a mortgage debt of approximately €215,000. The market value of the property was €130,000 a buyer was found and the Bank agreed to write off the shortfall of approximately €85,000. Lender: Bankia Location: Murcia Outcome: Sale with partial write […]

Tourism Licences

23rd May 2016

The holiday rental licence law in Spain is made as an attempt to set minimum standards, regulate the industry and organize the tax collection in the trade. There is an estimated € 3 billion in non-declared earning made every year from this type of rental. This control also tries to prevent for the natural resources […]

Tax Investigations in Spain

11th May 2016

The tax authorities in Spain are increasingly carrying out investigations and imposing fines on non-residents and foreign nationals who previously owned properties or businesses in Spain. We have recently represented individuals who owned businesses in Spain and thought that they had closed the company down correctly, but now face a complex tax investigation. Those non […]

Abusive Clauses – Life Insurance

2nd May 2016

Abusive clauses: Life insurance tied in to mortgage agreements The Spanish Banks are yet again facing problems as a result of their past actions. Borrows have begun legal action against their banks due to life insurance policies which were sold with mortgages. Borrowers were incorrectly told that Life insurance was mandatory; the Banks then imposed […]

Floor Clause Removal Service

27th April 2016

Since the floor clauses have been declared illegal by the Spanish Supreme Court, the Spanish banks have received and continue to receive innumerable requests from their borrowers for the removal of the abusive clauses from their mortgage agreements. The response from the bank has been to offer their clients a refinance of the whole agreement, […]

To be or not to be (in Europe)

30th March 2016

The referendum due to be held on June 23rd 2016 regarding whether the United Kingdom will remain in or leave the EU has ignited much discussion in Britain and attracted attention abroad. There is an open argument within the country, and even within the political parties, on the pros and cons of both remaining in […]

Imported Vehicle Registration

29th February 2016

RDT Abogados´ provide imported vehicle registration in Spain.  If you have a car with UK/Irish plates we can take the hassle out of registering your vehicle so that it can be driven in Spanish territory without any inconvenience.   We can also arrange the payment of corresponding taxes so that you avoid long queues at the […]

Defaulted mortgages sold to third parties

23rd February 2016

After the recent financial turbulence and in order to liquidate the bad credit on their books, the Spanish banks have sold numerous mortgages (as well as other difficult to recover debts) to third parties, usually funds and big international financial corporations, which have earnt the label of “vulture funds”. These funds buy the debt from […]

BANKIA Latest

19th February 2016

BANKIA This February 2016 Bankia has unveiled its proposal to settle out of court with the small investors who bought into the bank´s IPO some years ago. The said investors will be offered the recovery of the investment made plus interest, without exceptions, without having to meet any other conditions and without having to go […]

BANKIA Court Ruling

28th January 2016

Bankia The Supreme Court recently issued a ruling (January 27th 2016) making the IPO carried by Bankia in 2011 illegal. This has been received as excellent news by thousands of savers who bought shares in the institution when it went public. Soon after Bankia was floated on the Stock market it was widely believed that […]

Mortgage Floor Clauses – Good News for Borrowers

4th December 2015

The EU authorities have taken another step towards solving a problem that’s affected around 2 m people (half of them Spaniards, the other half non Spaniards buying a second residence in Spain) who bought a holiday home in Spain between 2002 and 2009. In these years of “brick boom”, thousands of properties were sold on […]

Mortgage Settlements Update

RDT Abogados continue to assist clients in difficulty with their Spanish mortgage. In recent weeks we have agreed the following on behalf of our clients; Lender: BANKIA Location: Malága Outcome: Sale with Quita This client had a debt of €125,000.  When an offer of €84,000 was made for the property we negotiated with the Bank […]

Debt Claims in Spain

3rd December 2015

The process to claim a debt in Spain is quite different to that in the UK.  A recent change in the Civil Law, concluded only by Summer 2015, has set and divide the different procedures depending, mainly, on the amount to claim; and also. Any debt can be taken to Court, for any amount. The […]