Court of Justice of the European Union (CJEU) on the IRPH Clause in Spanish mortgages

On Tuesday 3 March 2020 the court rules in favour of people affected by the mortgage index, IRPH, in contrasposition of the Spanish Supreme Court’s judgement.

This index, known as the ‘Index of Reference of Mortgage Loans’, (IRPH), affected more than 1 million mortgages. In those mortgages the interest rate was linked to the IRPH and not to the Euribor.

IRPH is calculated by taking into ac- count the loan interest rates offered by all financial entities and has al- ways been much higher than the Euribor with potential claims for the clients between €15,000 and €40,000 per case.

Therefore according with the The European Court of Justice it will be up to local judges in Spain to decide on a case by case basis if IRPH mort- gage clauses were abusive.

It will also be up to the judge to decide whether to apply a different interest rate in cases when the clause is considered abusive. Spain’s mort- gage price index (IRPH) should not be excluded from the remit of EU directives.

We can help get your money back

If you signed, or think you may have signed, a Spanish mortgage contract with a ground clause, you may be entitled to reimbursement from your lender. Please contact us on 951666024 or 07988445702 and we will be only too happy to advise you and help you get your money back. You can contact us for a free evaluation of your case. We offer this service together with other interesting claims related to mortgages in Spain and deposit reclaims cases for developments never built against the banks. We offer a NO WIN NO FEE service between the UK (Office based in Liverpool since 2007 being the Honorary Consul of Spain) and Spain (Marbella office). We have plenty of experience having recovered large amounts for our clients in ground clauses cases before and deposit reclaims against the Spanish banks.