Spain’s Households Toast Mortgage Win While Italy’s See Bond Hit
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Borrowers may claim back thousands in overcharged interest
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Court ruling puts more pressure on Spain’s struggling banks
Ivan Muniz is starting to think how he would spend the 6,000 euros ($6,300) he estimates he could win back from his bank for charging him too much for his Spanish mortgage.
“I would like to go traveling — to New York or maybe also London,” said Muniz, a steelworks quality-control inspector from Gijon in northern Spain. “It was time that someone put their fist down and said that what banks were charging wasn’t right.”
Spanish banks and borrowers are assessing the impact of a ruling by Europe’s top court that lenders charged too much for mortgages. The decision could mean a potential bonanza for homeowners in the form of compensation. That contrasts with Italy, where bondholders are bracing for massive losses as the country’s troubled banks face the prospect of being nationalized…
Spain’s Households Toast Mortgage Win While Italy’s See Bond Hit
