Fluent Finance Abroad was set up by Marc Elliott back in 2006. That was two years before the hit of financial crisis and resulting credit crunch that adversely affected the Spanish property market. Whist many other financial entities sank without a trace, FFA successfully navigated our business, our partners and our clients through that financial storm. We gained a great deal of unique knowledge along the way. Now, 14 years on, we find ourselves entering into an uncertain period once again. This time the Coronavirus epidemic is the catalyst for the tsunami which will wreak havoc across the lending markets and wider economy. While the causes of financial turmoil differ, the fallout, and how best to pilot your way through is a skill which can be learnt. As one of the longest-serving specialist mortgage consultancies in Spain, we use the benefit of experience gained by prevailing through previous trials and tribulations to act as a beacon for our clients guiding them so they do not have to put their purchase plans on hold and can still realise their Spanish property dreams.
Finance
European Court of Justice to rule on Spanish mortgages tied to IRPH Index on the 3rd March 2020
The European Court of Justice (ECJ) is set to publish their final ruling on whether Spanish mortgages which have or which had their interest rates set & calculated based on the IRPH index (Índice de Referencia de Préstamos Hipotecarios) are to be deemed abusive. These mortgages could then be deemed unfair, untransparent and therefore an abuse of the consumer.
How the new Spanish mortgage law affects borrowers
We hope that you have all had a great festive period and are looking forward to having a fantastic start to the new decade as much as we are at Fluent Finance Abroad. As we begin a new decade, we also see the beginning of a new era within Spanish mortgage lending, and while we all welcome changes which are better in the long term, it does inevitably come at the price of a period of pain whilst the changes are interpreted and adopted by the banks.
