Del Canto Chambers is confident on the floor clauses’ claims refund
“The question on every borrower’s lips will be “How do I get my money?” — and, this month, the Spanish government came up with an answer (…) that may work for residents and Spanish-speakers, but how easy will it be for owners to navigate their way through bank bureaucracy, in a foreign language, from 1,000 miles away, and to persuade them to cough up thousands of euros? Fernando del Canto, managing partner of the London- and Madrid-based law firm Del Canto Chambers, is sceptical. “It can take three months just to get an answer from your branch manager. This is such a huge and serious issue that the banks will put every obstacle in place,” he says.
He is collecting groups of clients according to their mortgage lender, and preparing to launch various group actions. “We want to avoid legal proceedings if possible,” he says. “We aim to force the banks to settle the proper amount out of court.”
His law firm is charging a £150 upfront fee and will take 20% of any money recouped from the bank. “As a barrister, I am 100% confident of success,” he says. “We will get the refunds. The question is when.”