Spanish bank takeover CAM to SABADELL

RAY63

Good afternoon ,
I took on the developer's mortgage with CAM bank when purchasing a brand new apartment in Spain.
CAM bank were taken over by SABADELL bank in 2011 ,so now this is the bank I have my mortgage with in Spain.
My question is CAM did not charge a commission when I made part redemption payments.
SABADELL want to charge me 1% commission for a part redemption payment I want to make (equating to 600€ ).
Can a bank just change the terms of the original agreement I had?
Is it lawful or have I a case to get the commission waived as per the original agreement.
Any help would be much appreciated
Ray

silvercar

Under English Law, the terms and conditions would have to remain the same. Who knows under Spanish Law??

Also check the T&Cs for circumstances where the bank can change the conditions.

davidmcn

silvercar wrote: »

Under English Law, the terms and conditions would have to remain the same. Who knows under Spanish Law??

People on a Spanish forum, perhaps?
OP, it's all UK stuff around here, you might strike lucky but I think better to ask somewhere Spanish. It certainly doesn't sound right, but they may do things differently there.

RAY63

Thanks for replies.
was hoping these mortgage lenders would honour the original agreement.I cannot find anything in the T&Cs that says the conditions can change.

Thrugelmir

RAY63 wrote: »

Thanks for replies.
was hoping these mortgage lenders would honour the original agreement.I cannot find anything in the T&Cs that says the conditions can change.

In the General section one would expect there to be a series of "catch all" terms allowing for changes to be made. Providing that adequate notice was given in writing. By continuing the mortgage then assumed that the new T&C's are accepted by the borrower.

RAY63

on the escretura (deeds) it clearly says 0% early redemption fee,but that was under the original CAM banks documentation.Just seems a bit harsh to charge a fee now