November 6, 2018 / 7:06 PM / 8 days ago

Spain's Supreme Court rules customers must pay for mortgage stamp duty

MADRID, Nov 6 (Reuters) - Spain’s Supreme Court said on Tuesday that customers and not banks will have to pay for stamp duty on mortgages from now on, reversing a ruling from mid-October and sparing banks from billion of euros in potential costs.

The unexpected ruling, which adheres to an even earlier ruling from February, is likely to lead to a relief rally amongst Spanish banks on Wednesday. The back-and-forth over the decision had prompted Spanish lenders to demand more predictable rules. (Reporting By Jesus Aguado; Editing by Sonya Dowsett)

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