The European Court of Justice has given the green light to Spanish courts to rule against lenders if mortgages were sold using the ‘more complicated’ IRPH rate rather than the more usual Euribor. Around one million mortgage holders could benefit from the top court’s ruling as the IRPH rate (an average of market rates) didn’t drop as dramatically as the Euribor in recent years. The ECJ has upheld earlier judgements that say using the IRPH is only valid if the different way of calculating it is clearly explained in the contract. Spanish courts will now have to decide on a case by case basis if compensation is due from banks. FIND OUT […]
Tag Archives: lender
Fairway Lawyers Spain
Calle Nuestra Señora de Gracia 28
Marbella
Malaga
Tel: +34 952 77 11 50
Email: diego@fairwaylawyers.com
If you have a matter that requires immediate attention please contact Diego Echavarria (00 34) 606 307 885 (mobile)
Recent articles
- Expat buyers in Spain are scooping €50,000 and more after Fairway Lawyers crack compensation route in floor clause mortgages
- Decision day for the one million floor clause mortgages in Spain that may have paid an average of €25,000 too much
- Do you have a mortgage in Spain? Find out if you are owed money by your bank…
- Door opened for a million mortgages in Spain on ‘abusive’ IRPH rate to be cancelled
- Top European court says homeowners in Spain can claim against banks if mortgage interest rates weren’t properly explained
- The UK’s departure from the European Union, the procedure and your rights in Spain under the Withdrawal Agreement
- Mortgage floor clauses in Spain: Key aspects of the Supreme Court ruling
- Door opened for a million ‘floor clause’ mortgages in Spain on ‘abusive’ IRPH rate to be cancelled
- Spanish mortgage victory leaves British couple with €15,000 in their pockets thanks to bank compensation payout
- European Court wades into Spain’s mortgage crisis