Spain's Sabadell to keep 'floor clause' mortgages
MADRID (Reuters) - Spanish bank Sabadell said on Friday it would keep selling mortgages with a so-called 'floor clause', which impose a limit on how far mortgage interest rates can fall in line with a benchmark rate.
The terms of these mortgages are clearly marked to potential buyers, Chief Executive Officer Jaime Guardiola said in a conference call.
The removal of the widely-used 'floor clauses', following protests by consumer rights groups, may hit bank profits, analysts fear.
(Reporting By Jesus Aguado; Writing by Sonya Dowsett; Editing by Paul Day)
