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A new hope for thousands of consumers European Court of Justice on the IRPH clause in Mortgage Loans

Dear Readers: The European Court of Justice, has been asked to clarify whether the judgment of the Supreme Court is adjusted to European community law, as it stated in the Directive 93/13. The Supreme Court’s decision dated 14 December 2017, exempted the IRPH clause from any transparency control.

A very unfair decision which basically protected the bank’s interests, as millions of euros are at stake.

After a three-hour hearing, Attorney General Maciej Szpunar announced that he will publish his conclusions on June 24 2019.

The full European Court of Justice, – 15 judges, – has asked questions related to transparency, consumer’s rights and the consequences of nullity.

We hope that the Opinion of Advocate General will be favourable to consumers, as it also happened with the floor clause.

CJEU´s Judgment will be the final hope of hundreds of thousands of people affected by this abusive interest rate.

In fact, 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. The consequence is a much higher interest rate and a more expensive mortgage.

Once the European Court of Justice renders its Decision, please kindly contact us for a free evaluation of your case. In adittion, we will also advice you about the possibility to claim the mortgage costs from your bank.

Therefore, should you be affected by this (or any other problem), please kindly contact us or visit our website for further information and advice.

Thank you very much for your attention, and we look forward to helping you.

With kindest of regards

Mr Oscar Ricor
“NON-PRACTISING ENGLISH SOLICITOR IN ENGLAND AND WALES”, under the “Solicitors Regulation Authority” (SRA) SRA number 519196 and practicing Spanish Solicitor.