MALAGA is struggling to cope with the thousands of floor clause cases being brought to its courts.
The province has the fourth highest number of cases (6,928), beaten only by Barcelona (23,773), Madrid (17,299) and Sevilla (11,056).
The news comes after a special court was created with two judges to specifically deal with floor clause claims.
Judge Jose Maria Paez has said the situation is ‘serious’ and that Malaga simply ‘cannot cope’.
The wait is slowly getting shorter, at least in Malaga, where three judges were already exclusively dedicated to tackling the cases.
In the first quarter of 2018, 286 judgments have been issued in the province and 98.3% of them have been in favour of the defendant.
Floor clauses imposed a minimum interest rate on floating-rate mortgages by setting a limit on how far they could fall in tandem with the benchmark rate.
In practice, this meant that Spanish mortgage buyers did not profit fully from the record-low interest rate which Spain enjoyed for several years.
The clauses were ruled illegal by the Spanish high court in 2013
- One hospitalised as roaring chemical plant fire in San Roque is brought under control - 25 Jun, 2019 @ 20:27
- Gibraltar says ‘no cause for concern’ as toxic smoke from San Roque chemical fire unlikely to affect British territory - 25 Jun, 2019 @ 17:55
- Firefighters near San Roque chemical fire warn of toxic smoke as Gibraltar government advises residents to CLOSE WINDOWS and doors - 25 Jun, 2019 @ 17:35
- WATCH: Homes evacuated as huge chemical fire ‘covers cars in ash’ and ‘turns sky dark’ near Spain’s Costa del Sol - 25 Jun, 2019 @ 16:59
- IN VIDEOS: HUGE mushroom cloud of toxic black smoke as fire BLAZES at chemical plant near Spain’s Costa del Sol - 25 Jun, 2019 @ 16:16
- BREAKING: Incident at San Roque oil refinery as flames and smoke billow from plant - 25 Jun, 2019 @ 15:54
- PLEASE SHARE: British teen launches last-ditch appeal to find dad who vanished from Spain’s Costa Blanca almost 10 years ago - 25 Jun, 2019 @ 15:34
- Shots fired at mosque in Spain - 25 Jun, 2019 @ 14:37
- BLUFFING MUFFINS: WARNING as batches of ‘fake gluten and dairy free’ magdalenas across Spain at risk of causing widespread allergic reactions - 25 Jun, 2019 @ 14:27
- IN PICS: Saudi tycoon’s HUGE €200 million yacht arrives on Spain’s Costa del Sol - 25 Jun, 2019 @ 13:59