IRPH: 11 Key points of the report of the Ombudsman of Catalonia



The Ombudsman de Catalunya issued a report in September 2015, poniendo de manifiesto el desequilibrio y la falta de información sobre el IRPH.

We make a summary of this report, The main points can help cement claims to achieve nulidad del IRPH before the Courts.


The report is generated as a result of the complaint brought before the Ombudsman by the Platform Affected by Mortgage (hereinafter PAHs). doubts about the legality of raised IRPH.

Advertising of some entities had "sold" the IRPH as more stable and less variations Euribor. However, the guarantee of stability is never fulfilled: On the one hand the IRPH was always above the Euribor, and the other suffered a similar variability to it.

Accordingly, the Sindic considered act on its own to issue suggestions and recommendations to the public authorities involved.

Under Annex VIII of Circular 8/1990 of 7 September the Bank of Spain, the IRPH is defined as "The simple average of the average interest rates weighted by major operations equity loan term not less than three years to purchase free housing that have been initiated or renewed during the month to which the index refers " and it arose three types of IRPH, as take into account the loans granted by banks, by banks or by all entities.

The EHA / 2899/2011 Order Article 26 It establishes the conditions to be met indexes to be used as reference:

Article 26. Variable interest rates.

1. In the case of loans to variable rate, credit institutions may only be used as a reference index or those who meet the following conditions:

a) They have been calculated at market cost and are not susceptible to influence by the entity under agreements or consciously parallel practices with other entities.

b) And that data as a basis the index or are added according to a mathematical procedure objective.

2. In the case of loans to variable rate, It is attached to the Personalized Information Sheet to respect Article 22, in a separate document, a special reference to the periodic fees payable by the customer in different stages of evolution of interest rates. A estos efectos, They shall be submitted at least three repayment installments, calculated by using the maximum levels, average and minimum rates of reference made during the last fifteen years or the maximum period available if less.

With Law 14/2013 of 27 September IRPH the disappearance of boxes which will be replaced by the type provided for in the contracts themselves set, or by entities IRPH.


The Sindic consider the following possible violations of consumer rights, in the implementation of IRPH:

1.- misleading information:


It was offered by financial institutions as more stable than the Euribor, which it is not true in view of the accompanying chart.

2.-It was not made available to the consumer real information on the cost of the mortgage and the influence they had the institutions themselves when determining it.

3.- The IRPH is influenced by the entities themselves (answers the Bank of Spain in the proceedings before the Commercial Court 1 Burgos in ordinary trial 81/2014).

4.- It is calculated by a simple average, regardless of the volume of loans. A box of very small volume, weighs the same for the purposes of that larger IRPH.

5.- By decreasing the number of boxes, each had more influence on the development of IRPH.

6.- If a Fund wants to raise the IRPH, only you need to increase their interest applied that month to get.

7.- Type on which it is constructed is the TAE, It is including commissions.

8.- It is a non-transparent type that the data provided by the banks are not public and can not be verified by consumers.

9.- The calculation occurs considering declared null and soil types clauses or rounding upward.

10.- The IRPH entities, It has the same deficiencies that the boxes removed IRPH.

11.- Novation compulsory by law 14/2013 It is contrary to the principle of autonomy.

Ultimately the Ombudsman reached the following conclusions and recommendations.

Information on banking and financial products must be effective

There is a imbalance between customers and institutions, they lack bargaining power and financial expertise. Therefore, should provide comprehensive information, which to assess the consequences of signature. He should be easy comparison between alternative, if possible graphically. And entities should strive for customers to understand the products they sell them.

Information should be adjusted to the reality of the product

Avoid bad banking practice consisting of advertise qualities of products that do not exist or are partial.

In the case of IRPH it is not stable and has never been below the euribor.

The bodies that oversee the banking sector should ensure the defense of the rights of citizens

The Bank of Spain must ensure that benchmarks are reliable and solid, reflection of the real economy and not the result of positions of privilege or handling.

The Trustee recommends that arise it is the IRPH removal of entities as official rate. In his case, He considers that IRPH mortgages are renegotiated with tighter to current market rates.

BDE must ensure that people understand the conditions of the products that offer them financial institutions (in the case of mortgage loans, the information needed to calculate the price they will pay in different scenarios, share and benchmark).

Last adds that the Catalan application support specific institutions in the above criteria.

annexed, Report of the Ombudsman on the IRPH Contiene report of the Platform Affected by Mortgage (PAH) Sant Cugat and Terrassa, putting "black on white" the reality of IRPH and handling, and which I recommend reading stakeholders.

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