Number of mortgage claims against Spanish banks

Banks in Spain have faced an avalanche of claims in the wake of the Supreme Court rulings particularly against floor clauses and mortgage set up costs.

The largest number of claims have been in relation to floor clauses in mortgage agreements.

This issue has affected hundreds of thousands of borrowers and leaves the banks with significant potential payouts.

Valencia, Spain

Following a dramatic increase in lawsuits filed for mortgage related issues during the first quarter of 2017, special courts were set up to specialise in these type of disputes.

Each of the 17 communities within Spain now benefit from at least one court processing only mortgage cases.

The number of courts per community varies:

• Madrid 1
• Andalucia 8
• Cataluña 4
• Com. Valenciana 3
• Castilla y Leon 9
• Canary Islands 2
• Castille La Mancha 5
• País Vasco 3
• Galicia 4
• Aragón 3
• Extremedura 2
• Murcia 1
• Asturias 1
• Balearic Islands 1
• Cantabria 1
• Navarra 1
• La Rioja 1

The courts started to operate on 1st June 2017 and have received an average of nearly 1,000 cases per day since.