Blog | February 24th

Málaga Appeal Court slams SLM for illegal mortgage selling.

The Málaga Appeal Court has rejected all grounds for appeal brought by SLM (Surrenda Link Mortgages) against the primary ruling by a Court of Instance in Fuengirola.

In the extensive ruling, the Courts bases its decision on 3 main arguments:

a) SLM had no authorization to sell what the judges deemed as a complex financial product made up of a mortgage loan, and a speculative investment vehicle. Not having a license to operate in Spain renders this proposition unlawful, and as such null and void ab initio.

b) The “lender” misrepresented material facts pertaining to the associated investment risks, labelling the product…

...Click here to read more »

More Articles »

Who’s Online

There are no users currently online
Skip to toolbar