Banks let off the hook

Making customers pay mortgage tax stamp duty 'is not abusive', says court

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Spain's Supreme Court building where judges ruled in favour of the banks last week

BANKS in Spain sighed in relief last week after the Supreme Court ruled in their favour regarding mortgage contract clauses that obliged customers to pay the mortgage tax stamp duty (Impuesto de Actos Jurídicos Documentados).

Had the national court ruled in favour of customers, as many provincial courts had, banks would be facing a stream of demands that would have amounted to millions of euros in payouts.

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