The Provincial Court of Toledo has declared the nullity of a multi-currency mortgage placed by Caixabank, (formerly Barclays). to a physiotherapist declaring the nullity of the mortgage loan in all terms related to the multi-currency option and condemning the bank to restore the excesses attached in application of said clause.
The Judgment emphasizes that the clause has not been individually negotiated and does not exceed the transparency control, in addition to the fact that the financial institution claimed that, since it is a physiotherapist who has frequently performed his work abroad, he must necessarily be accustomed to the operation of foreign currency, without the Court accepting this thesis, as it is not accredited.
The court ruling follows that in the writing the risks subject to the multi-currency option are not highlighted in bold or as a warning, which is far from informing the client that the loan capital may increase.
For the lawyer who has led the defense of consumer interests, Magdalena Rico Palao, from the platform www.eliminarhipotecamultidivisa.es“These products were totally unsuitable for the average profile of those affected, since they are generally banking clients without experience in the financial world, without speculative investments and with professions far removed from the banking world.”
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