he Court of Justice of the European Union (CJEU) The IRPH is a controversial index to which around 1 million mortgages in Spain are referenced. Must be subject to judicial regulation This is to enable Spanish courts to assess whether there are abusive clauses in mortgage contracts.
A few months after the European judgment, the Supreme Court concluded that it is not possible to provide a “unique” solution for mortgages affected by the IRPH or the Mortgage Reference Index, and that it depends on each particular case.
return factor
Amount to be returned to each customer in case of failure in this respect It depends on several factors. If all or only part of what was collected needs to be returned, if the customer has made prior arrangements with the entity, the term of the mortgage, etc.
This Help My Cash calculator will help you get ideas for: If so, how much will they have to pay you back?:
For example, for a 25-year average €150,000 loan contracted 10 years ago with an IRPH entity interest rate plus 0.25%, the holder would have paid on average around €25,600 more if this clause had been cancelled.
“If the criterion is removed and only the differential is applied, The amount will be approximately 23,700 eurosOn the other hand, if IRPH were simply replaced by Euribor, the overpayment amount would amount to just under 18,400 euros,” the company statement said, reminding that the final formula will be established by the court.
of If IRPH is abolished, those affected will be able to save over the life of their mortgage. “In the case of the previous example, the sum of the recoveries and future savings would result in the suspension of interest payments of approximately €34,500 to €44,800, depending on the interest rate that applied after the cancellation of the abusive base rate,” the statement said.
Average 20,000 euros
According to the estimation of Reclaimer.esthey are at least 300,000 home loans For those who still refer to the index, this judgment will allow affected parties to recover an average of 20,000 euros,” said Almudena Velázquez, legal co-director of the portal.
an amount that is likely to be fully refunded; or Write off unpaid loansas described by the same source.
About The Author
