The famous clauses about minimum rate

Earlier this year it was announced with great fanfare to the ground clauses, and rapid repayment of amounts unduly paid.
It looked to be an immediate solution, but what is the reality today?

On January 21 was published in the BOE Royal Decree-Law 1/2017, of January 20, on urgent measures to protect consumers in respect of ground clauses, ie, the starting gun for the widespread claim of all those they had not obtained a satisfactory solution before.
The solution would be so fast that even the finance ministry was quick to define the tax treatment of possible returns. However, many questions remain about the process.

How do the banks?
Financial institutions do not have a single position. Most are limited, in the best case, to study individual cases presented to them, absolutely leaving the initiative in the hands of individuals.
Some entities have chosen to propose to claimants the right not to make an immediate refund of the amounts involved, but present an alternative form of modification of existing conditions in the mortgage, offering a presumed improvement thereof, which may go through the conversion of mortgages variable rate to fixed rate.
Sometimes it may be a good alternative to the claimant. And what's in the bank? Simply move the negative effect on their profit and losses to subsequent years, presenting in the present exercise more attractive to investors and shareholders balances.

Well, what should I do to get my money back ?
Address the Customer Service my financial institution requesting the return of the amounts to which I am entitled consider. This notification must be in writing, check, and request for repayment of the amounts claimed, properly argued. If the answer is yes, I can get the money or negotiate. If negative, I must decide whether I should or not go to court.

What tax implications may have the potential return?
An important aspect that determines important decision on the floor clauses is the taxation of the return.
The amounts to be charged could lead to less deduction of those in the declarations relating to income tax, due to the purchase of a first home, and therefore the obligation to submit additional (exempt from punishment) Logically all in relation only to the periods not prescribed.

In any case, making such an important decision should not be taken lightly, and it is desirable to have the advice of a specialist to show us the pros and cons of each situation.
Atema Strategic Consulting offers the necessary from the experience of our specialists advice.
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