Spain’s Households Toast Mortgage Win While Italy’s See Bond Hit
- Borrowers may claim back thousands in overcharged interest
- Court ruling puts more pressure on Spain’s struggling banks
Spanish Banks Face Losing Billions in Mortgage Case
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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.”