{"id":33838,"date":"2023-01-13T18:06:40","date_gmt":"2023-01-13T17:06:40","guid":{"rendered":"https:\/\/www.cbleon-abogados.com\/what-is-irph-and-how-does-this-clause-work\/"},"modified":"2023-01-13T18:06:40","modified_gmt":"2023-01-13T17:06:40","slug":"what-is-irph-and-how-does-this-clause-work","status":"publish","type":"post","link":"https:\/\/cbleon-abogados.com\/en\/what-is-irph-and-how-does-this-clause-work\/","title":{"rendered":"What is IRPH and how does this clause work?"},"content":{"rendered":"<p><span style=\"color: #000000;\">To begin with, we will explain what the term IRPH means. Basically, the acronym stands for \u00cdndice de Referencia de Pr\u00e9stamos Hipotecarios. This clause deals with how to acquire a house for a term of three years or more. These loans are currently supervised by the Bank of Spain.<\/span><\/p>\n<p><strong><span style=\"color: #000000;\">This mortgage is calculated based on the estimated interest rates that financial players apply to current Spanish mortgages. That is why we recommend that you review the clauses of your mortgage contract to find out if the IRPH applies in your case. The majority of mortgages in the country that apply this clause exceed one million.<\/span><\/strong><\/p>\n<p><span style=\"color: #000000;\">The reality is that the IRPH is known for having quite high rates, so it has a very negative charge that Spaniards affected by it have complained about. It has even involved the Court of Justice of the European Union (also known as the CJEU).<\/span><\/p>\n<figure id=\"attachment_33836\" aria-describedby=\"caption-attachment-33836\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-33834 size-full\" src=\"https:\/\/www.cblspanishlawyers.com\/wp-content\/uploads\/2023\/02\/compraventa-firma-irph.jpg\" alt=\"sale and purchase irph signature\" width=\"1280\" height=\"853\" srcset=\"https:\/\/cbleon-abogados.com\/wp-content\/uploads\/2023\/02\/compraventa-firma-irph.jpg 1280w, https:\/\/cbleon-abogados.com\/wp-content\/uploads\/2023\/02\/compraventa-firma-irph-300x200.jpg 300w, https:\/\/cbleon-abogados.com\/wp-content\/uploads\/2023\/02\/compraventa-firma-irph-1024x682.jpg 1024w, https:\/\/cbleon-abogados.com\/wp-content\/uploads\/2023\/02\/compraventa-firma-irph-768x512.jpg 768w, https:\/\/cbleon-abogados.com\/wp-content\/uploads\/2023\/02\/compraventa-firma-irph-370x247.jpg 370w, https:\/\/cbleon-abogados.com\/wp-content\/uploads\/2023\/02\/compraventa-firma-irph-760x506.jpg 760w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><figcaption id=\"caption-attachment-33836\" class=\"wp-caption-text\">sale and purchase irph signature<\/figcaption><\/figure>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-white ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Tabla de Contenidos<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/cbleon-abogados.com\/en\/what-is-irph-and-how-does-this-clause-work\/#The_negative_aspects_and_problems_of_this_clause\" >The negative aspects and problems of this clause<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/cbleon-abogados.com\/en\/what-is-irph-and-how-does-this-clause-work\/#How_can_I_recognize_if_my_IRPH_is_abusive_or_not\" >How can I recognize if my IRPH is abusive or not?<\/a><\/li><\/ul><\/nav><\/div>\n<h3><span class=\"ez-toc-section\" id=\"The_negative_aspects_and_problems_of_this_clause\"><\/span>\n<span style=\"color: #000000;\"><strong>The negative aspects and problems of this clause<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"color: #000000;\">In this section we will discuss the negative points and problems that the IRPH may present. To begin with, we will return to the aforementioned problem that this clause had with the CJEU and we will go a little deeper into it.<\/span><\/p>\n<p><span style=\"color: #000000;\">This Spanish mortgage problem came to light thanks to the Euribor rates. Broadly speaking, Euribor is a daily benchmark index that shows the lending interest that European banks have to pay to third parties and to each other. The currency used in this index is the Euro.<\/span><\/p>\n<p><span style=\"color: #000000;\">Therefore, it is in this index where the country&#8217;s problems with the IRPH could be seen. Since these loans are much more expensive than those in the Euribor, being between 1% and 3% higher. This caused a lot of controversy and several Spaniards complained about this situation and denounced it.<\/span><\/p>\n<p><strong><span style=\"color: #000000;\">Complaints agreed that the banks were abusing this interest and that everyone was demanding the amounts they wanted. All this went all the way to the Supreme Court in 2017, where the ruling was in favor of the banks and it was declared that the rates they were demanding were not abusive.<\/span><\/strong><\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_can_I_recognize_if_my_IRPH_is_abusive_or_not\"><\/span><span style=\"color: #000000;\"><strong>How can I recognize if my IRPH is abusive or not?<\/strong><\/span><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"color: #000000;\">If you are concerned about high interest rates on your mortgage, you should be aware that in order to be considered abusive, the rate must be higher than 1%. If this is the case in your case, then here are some indications that may be useful for you to make your claim:<\/span><\/p>\n<ul>\n<li><span style=\"color: #000000;\"><strong>You must first study in detail the deed of your mortgage loan.<\/strong><\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>Contact the customer service department of the bank with which you acquired the loan.<\/strong><\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>In case the bank does not give you an answer or you have problems of any kind, contact the Bank of Spain.<\/strong><\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>If the problem persists and you are not offered any solution, as a last resort we recommend filing a civil lawsuit.<\/strong><\/span><\/li>\n<li><span style=\"color: #000000;\"><strong>The IRPH claim form can be found on several legal websites.<\/strong><\/span><\/li>\n<\/ul>\n<p><span style=\"color: #000000;\">We hope this information has been helpful. If you have a problem with this mortgage clause or if you have a problem with your mortgage, we recommend that you <a href=\"https:\/\/www.cbleon-abogados.com\/en\/\">contact<\/a> us <a href=\"https:\/\/www.cbleon-abogados.com\/en\/\">for any real estate problems you may have<\/a>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>To begin with, we will explain what the term IRPH means. Basically, the acronym stands for \u00cdndice de Referencia de Pr\u00e9stamos Hipotecarios. This clause deals with how to acquire a house for a term of three years or more. These loans are currently supervised by the Bank of Spain. This mortgage is calculated based on the estimated interest rates that&hellip;<\/p>\n","protected":false},"author":5,"featured_media":33833,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_joinchat":[],"footnotes":""},"categories":[101],"tags":[],"class_list":["post-33838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/cbleon-abogados.com\/en\/wp-json\/wp\/v2\/posts\/33838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cbleon-abogados.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cbleon-abogados.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cbleon-abogados.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/cbleon-abogados.com\/en\/wp-json\/wp\/v2\/comments?post=33838"}],"version-history":[{"count":0,"href":"https:\/\/cbleon-abogados.com\/en\/wp-json\/wp\/v2\/posts\/33838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cbleon-abogados.com\/en\/wp-json\/wp\/v2\/media\/33833"}],"wp:attachment":[{"href":"https:\/\/cbleon-abogados.com\/en\/wp-json\/wp\/v2\/media?parent=33838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cbleon-abogados.com\/en\/wp-json\/wp\/v2\/categories?post=33838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cbleon-abogados.com\/en\/wp-json\/wp\/v2\/tags?post=33838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}