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What is the IRPH?
Is
the reference index of mortgage loans, indicator of
variable rate that taxes mortgages. It is calculated taking into account
the average type of loans for the acquisition of housing at
more than three years and is supervised by the Bank of Spain.
Is
the second most used indicator after EURIBOR, and was born
of the need to protect customers against oscillations
of financial markets back in the early 90s, it’s more
Stable but more expensive.
In
its elaboration incorporates the EURIBOR + a differential of the
Variable mortgages It is currently trading at 1,836%. The EURIBOR to date
9/9/2019 is at -0.360%.
The
controversy arises with the collapse of the EURIBOR, while it reaches
negative values the IRPH is around 2% as we have seen. The
IRPH clients begin to consider it abusive.
Even though
The Supreme Court considered it valid in 2017, in 2018 it rose
question referred by several courts to the Court
Justice of the European Union.
In
these days it is on everyone's lips because the General Counsel of the
European Union has to issue a non-binding mandatory report
with your opinion, and your criteria is that it may not be transparent because
be able to contain abusive clauses for the client or at the time of
the hiring did not inform him with due clarity which were
the options and comparisons with the different variables so that
He could freely choose which type suited him best.
Now
it is awaiting the decision of the Court of Justice of the
European Union.
It is estimated that in Spain there will be more than one million mortgages referenced to IRPH; Normally in the contract or / and mortgage deed we can know what index our mortgage reference. Most are referenced to the EURIBOR.
If you want more information about this, Medina Mediación en Socuéllamos can answer your questions about it. You can call 607 69 03 69 or go through Croatia Street 24, (Municipal Business Center, El Llano industrial estate)
Source link
https://infosocuellamos.com/sabe-si-su-hipoteca-tiene-irph/
