Question-03. How can I tell if my mortgage has “Floor Clauses”

Mortgages taken out since 2013 are unlikely to include “floor clauses” but loans from before that may have, especially those signed between 2007 and 2009.
Mortgages taken out since 2013 are unlikely to include “floor clauses” but loans from before that may have, especially those signed between 2007 and 2009.
Since 2008 then it's likely your mortgage contains a “floor clause”.
They only relate to variable rate mortgages and it is difficult to tell if you are the victim of such a clause because they are often buried in complex figures and terms, which most foreign borrowers would struggle to understand, especially as they are in Spanish.