How much can you claim from the bank if the court annuls the IRPH on mortgages?

He Court of Justice of the European Union (CJEU) considers that the IRPH, the controversial index to which almost a million mortgages in Spain are referenced, must be subject to judicial control so that the Spanish courts can evaluate whether they are abusive clauses included in mortgage contracts.

Now, months after the European decision, the Supreme Court concluded that it is not possible to provide a “univocal” solution to mortgages affected by the IRPH or Mortgage Loan Reference Index, but that it depends on each particular case.

Factors for return

The amounts to be returned to each client in the event of a failure in this regard It depends on several factors: If they have to return all of what was collected or only a part, if the client has made a prior arrangement with the entity, the term of the mortgage, etc.

This Help My Cash calculator can help you get an idea of How much would they have to pay you back if necessary?:

For example, for an average loan of 150,000 euros over 25 years contracted 10 years ago with an interest rate of IRPH Entities plus 0.25%, the holder would have paid, on average, about 25,600 euros more if the clause was cancelled.

“In case the reference was eliminated and only the differential was applied, the figure would be almost 23,700 euroswhile if the IRPH were simply replaced by the Euribor, the overpaid amount would amount to just under 18,400 euros,” says a statement from the company, which recalls that the final formula will be established by the courts.

The Elimination of the IRPH would also allow those affected savings throughout the life of their mortgage. “For the previous example, adding the amount recovered plus future savings, they would stop paying between about 34,500 and 44,800 euros in interest, depending on what rate was applied after canceling the abusive reference rate.” the statement says.

An average of 20,000 euros

According to the estimates of Reclaimer.esthey are at least 300,000 mortgage loans that are currently still referenced to this index, whose affected parties, with this ruling, will be able to recover an average of 20,000 euros,” says the legal co-director of this portal, Almudena Velázquez.

An amount that could well be returned or amortized on the outstanding loanas explained by the same sources.