Spanish floor clause and mortgage expense complaints registered with Banking supervisor soar 178% in 2017

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The claims service of the Bank of Spain has been overwhelmed by consumers making complaints against lenders for abusive mortgage interest floor clauses, and set-up costs.

The Claims Service of the Bank of Spain is a body that evaluates consumer complaints against financial service companies. The Bank of Spain has revealed that there were 40,173 complaints registered with it against Spanish financial institutions last year.

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