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The IRPH: An abusive mortgage loan?

Many times we have heard of Irph , the reference index of mortgage loans . However, it is necessary to

Many times we have heard of Irph , the reference index of mortgage loans . However, it is necessary to know in detail the importance of this indicator. Especially since it is current again due to the about IRPH. In Verum, we break up everything that has to do with the IRPH (reference index of mortgage loans).

This is one of the indicators used to update mortgages with a variable interest rate. Generally, the most used indicator is Euribor, but IRPH is also used. Specifically, it is estimated that around 1.3 million families have their mortgage with this rate of variable interest).

The IRPH calculation depends on the financial entities themselves, and is considered an abusive indicator according to various European regulations.

How is Irph calculated?

The IRPH is the minimum percentage that is set in mortgages and is calculated with a mathematical formula. It is calculated as follows: The reference index of the mortgage loans is the average type of mortgage loans more than three years that have been granted by banks and boxes during a given period. This result is a percentage that families pay monthly for the duration of their mortgage loan.

This arithmetic mean that marks the IRPH is set by the financial entities of Spain. It has been estimated that the reference index of the mortgage loans is between 1.5% and 3% above the Euribor, the most used indicator.

The reason why it began to be used was because it had a slower oscillation character than the Euribor. Therefore, it was considered an indicator with less risk and therefore suitable for the middle classes. However, after an analysis of the data, it can be said that IRPH is much more unstable than the Euribor.

criticism of Irph

Being a simple and not weighted average, and being based on the data provided by the financial entities themselves, the reference index of the mortgage loans is considered an abusive and little adjusted indicator to reality.

When signing the mortgage, many people had doubts about which indicator to establish, the IRPH or the Euribor. Seeing the numbers that the first is more favorable to financial entities than the second. In fact, Irph has always been above the Euribor. It is estimated that a mortgage with IRPH is an expense between € 18,000 and € 21,000 compared to one with the Euribor as a reference.

attentive to the Supreme Court Judgment on IRPH

The Supreme Court has to face the first case of Nullity of Irph in the coming weeks. From Verum Management we will inform about this sentence, since it can be taken as a reference for future claims.

Have you been harmed? Verum can help you

Is your mortgage indicator Irph and want to know more about it? Contact us in and delegate in our team of professionals. Our IRPH experts will help you process your claim and manage your mortgage loan.

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