I have a mortgage with a Mortgage Index of Reference (IRPH). What novelties are there for this clause?
Evaristo Nievas Gomez - Abogado / 699654217
The Official Bulletin of the State published an article on “Average type of mortgage over three years old, for the purchase of a freehold house, through a credit establishment in Spain. There was also the IRPH of Cajas and Banco of Spain that was substituted by that of Establishments. This index on the price was ruled as abusive for most Province Tribunals, but the Supreme Tribunal considered it as valid. There are preliminary proceedings with the European Union Tribunal (TJUE) regarding the abusive side of this clause that affects the price. The European Union has informed that it would rule in favour of declaring it void because it is abusive and this is a good sign for it to be declared as abusive by the TJUE that would make Spanish Tribunals declare this clause as abusive also. The abusive side of this clause could mean the reimbursement and saving thousands of Euros for consumers unless an agreement is reached with the bank. In our practice, we have managed to get the reimbursement of 40.000 Euros on a 150.000 Euro mortgage. In any case, the only way to get a clause declared abusive is to make a request of resolution and if no agreement is found with the bank, those agreements mean that they give up those amounts and the bank has to reimburse them.