LITIGATION

PLUSVALÍA CLAIMS

Did you have to pay plusvalía tax when you sold at a loss?

Did you know you could claim this tax back?

Plusvalía is a local tax levied on the vendor when selling a property. It represents the increase of value in the land and is paid to the local council. It is calculated using the rateable value of the property (cadastral value) and the number of years the proprietor owned the property before selling, donation or inheritance.

After recent changes in the law, it’s now possible to claim back plusvalía tax payment in some cases. They depend on how the tax was paid and the timescale for payment.

Prime Legal can offer you advice on your situation and help you reclaim this tax from the local council.

CONTACT

CLAIMS FOR MORTGAGE EXPENSES
& INTEREST RATE FLOORS

Did you pay expenses when you took out your mortgage? Does your mortgage contract include an interest-rate floor clause?
If so, you can claim back mortgage expenses and appeal against the interest-rate floor clause.

What are mortgage expenses and which can you claim back?
Mortgage expenses are the costs you paid when you took out your mortgage. They include notary and property registry office fees, Stamp Duty tax (AJD in Spanish), the costs of the property valuation and the gestoría.

The Spanish Supreme Court recently ruled that mortgage holders must pay Stamp Duty. However, you can still claim back the bulk of the costs! Those you can reclaim are:

– Notary – the cost of the mortgage title deed.
– Valuation of the property.
– Registry – the cost of registering the mortgage with the property registry.
– Gestoría – when it was a bank condition to use one.
– Mortgage arrangement fee.

Important: There is no expiry date to claim these costs even if you already cancelled the mortgage.

GET ADVICE

HOW TO CLAIM THE MORTGAGE EXPENSES

The first step is to try for an out-of-court settlement. Present your invoices to the bank and request a refund of the costs you paid. Note however, that banks are generally not refunding these expenses.

If your bank does offer you an agreement, it’s sensible to take legal advice before accepting since in many cases, the bank is obliged to refund a higher amount than that stated in the agreement.

If there is no agreement forthcoming, the only alternative is to take the bank to court. But don’t panic, it’s not nearly as difficult as it seems!

5 STEPS TO CLAIM MORTGAGE EXPENSES

Contact us for information
We will ask you for the documents required and help you obtain any you don’t have. We will also explain your chances of winning the case and the steps to take.
We will assist you
We will assist you in obtaining power of attorney for us to represent you and your interests. Powers of attorney can be drawn up in Spain or in your home country (certain conditions apply). We then start work on your case.
Contact your bank
We, at Prime Legal, contact your bank to try to get an out-of-court agreement.
take the case to court
If we don’t manage to reach an agreement with your bank, we will take the case to court and sue your bank on your behalf.
the court
Finally, the court will hear the case and reach a decision.