Many mortgage holders in Spain are unsure whether their loan is linked to IRPH or Euribor. The quickest way to confirm this is by reviewing the interest-rate clause in your mortgage deed (escritura).
IRPH is a reference index that some Spanish banks used instead of Euribor. If your mortgage uses IRPH, the loan may be affected by recent court rulings concerning transparency and potential refunds.
Where to check IRPH in your mortgage deed
Open your mortgage deed and locate the section that explains how the interest rate is calculated. This section normally contains wording such as:
- “Tipo de interés variable”
- “Índice de referencia”
- “Tipo de referencia”
If the document lists IRPH as the reference index, the loan may fall under the IRPH mortgage category.
IRPH vs Euribor
If your mortgage uses IRPH instead of Euribor, the difference between the two indexes may affect the total cost of the loan.
You can read a full explanation here:
What IRPH means for mortgage holders
Spanish courts and the Court of Justice of the European Union have analysed whether banks properly explained how IRPH worked when the mortgage was signed.
If transparency requirements were not met, the clause may be considered abusive and the borrower could be entitled to claim.
Related legal context:
Quick IRPH deed checklist
- Check whether the reference index is IRPH instead of Euribor
- Look for explanations describing how IRPH is calculated
- Review whether the bank provided documents explaining the index at signing
Fastest way to confirm your case
The quickest way to confirm whether an IRPH clause can be challenged is to have the mortgage deed reviewed.
Send:
- the mortgage deed (escritura)
- if the mortgage has already been repaid, the approximate settlement date
A lawyer can verify the clause and confirm whether a claim may be possible.
For a complete overview of property law and conveyancing in Spain, see our Buying Property in Spain Complete Legal Guide 2026.
Which abusive clauses do we check in your Spanish mortgage?
- Floor clause (Clausula suelo) — hidden minimum interest rates
- Abusive late payment interest — rates exceeding legal limits
- Mortgage expenses — notary, registry, and management fees unlawfully charged to the borrower
- Opening commission — upfront fees that may be reclaimable
- Early maturity clause (Vencimiento anticipado) — allowing the bank to demand full repayment after minor defaults
- IRPH — a mortgage index consistently higher than Euribor, often applied without adequate transparency
- Multi-currency clauses — loans denominated in foreign currencies exposing borrowers to exchange rate risk
If any of these apply to your mortgage, you may be entitled to a refund. Request a free mortgage review
Legal Notice: The content on this page is provided for general informational and educational purposes only. It does not constitute legal advice and should not be relied upon as such. No action should be taken based solely on this content without first seeking independent professional legal counsel. Each case requires individual assessment based on its specific circumstances. CostaLuz Lawyers accepts no liability for actions taken or not taken based on this content.
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This content has been prepared with the assistance of artificial intelligence and reviewed by María Luisa de Castro, a lawyer specialising in Real Estate Law and founder of CostaLuz Lawyers.
The information provided is general and indicative in nature. It should not be used as the sole basis for making professional, legal or investment decisions, and CostaLuz Lawyers assumes no responsibility for decisions taken solely on the basis of this content.
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