Consumer protection measures concerning mortgage floor clauses

1. The AEB banks, to which the Royal Decree-Law on Urgent Consumer Protection Measures Regarding Mortgage Floor Clauses applies, express their willingness to cooperate with the Government in the implementation of these measures.
2. We trust that the system now established will contribute – always respecting the rights of all parties involved – to efficiently, quickly, and affordably resolving any issues and concerns that clients may have regarding floor clauses included in their mortgage contracts.
3. It should be noted that AEB banks have been in dialogue with their clients for many months to find the best solution for each case, and they will continue to do so, taking into account the new procedure established by the Government.
4. We reiterate that AEB banks comply and have complied with mortgage legislation, and particularly with the numerous regulations governing transparency and information that must be included in mortgage contracts, including the involvement of a public notary as a guarantor of transparency and consumer rights.
5. Finally, we consider it essential to preserve the integrity and legal certainty of a mortgage system that for decades has very effectively fulfilled its function of providing access to credit for a large number of Spanish families to acquire home ownership.

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