Euribor Tag

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European Union Commission on the IRPH clause in Mortgage Loans

The European Commission, in its observations to the Court of Justice of the European Union (CJEU), has positioned itself in favour of people affected by the mortgage index, IRPH, which directly opposes the judgment of the Supreme Court on the IRPH index in Spanish mortgages. This index, known as the ‘Index of Reference of Mortgage Loans’, (IRPH), affected 1.3 million mortgages. In those mortgages the interest rate was linked to the IRPH and not to the Euribor. IRPH is calculated by taking into account the loan interest rates offered by all financial entities and has always been much higher than the...

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