Many homeowners in Spain suspect that they paid significantly more interest because their mortgage used the IRPH index instead of Euribor.
An IRPH calculator allows borrowers to estimate how much extra interest they may have paid over the life of their mortgage.
While the exact amount depends on the specific mortgage conditions, an approximate calculation can provide an initial indication of potential financial impact.
What Is an IRPH Calculator?
An IRPH calculator is a tool used to estimate the difference between:
- interest paid using the IRPH index
- interest that would have been paid using Euribor
Because IRPH has historically been higher than Euribor, many borrowers paid more interest than they would have under a Euribor-linked mortgage.
The calculator compares these two scenarios to estimate potential overpayment.
Why IRPH Mortgages Often Cost More
IRPH is calculated differently from Euribor.
Unlike Euribor, which reflects interbank lending rates across Europe, IRPH is based on the average interest rates applied by Spanish banks to mortgage loans.
Because bank fees and commissions influence the calculation, IRPH has often remained higher than Euribor.
As a result, borrowers with IRPH mortgages frequently paid higher monthly instalments.
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You can read about the legal background in our analysis of the EU ruling on IRPH mortgages in Spain.
Example Estimate of IRPH Overpayment
The following table shows a simplified example comparing IRPH and Euribor mortgage payments.
Typical IRPH overpayment examples
The exact amount depends on the mortgage amount, interest rate history and the difference between IRPH and Euribor. The following examples illustrate typical ranges seen in many Spanish mortgages.
| Mortgage Amount | Estimated Overpayment |
|---|---|
| €150,000 mortgage | €15,000 – €25,000 |
| €200,000 mortgage | €20,000 – €35,000 |
| €300,000 mortgage | €30,000 – €50,000 |
| Mortgage Amount | Duration | Estimated Overpayment |
|---|---|---|
| €150,000 | 20 years | €15,000 – €25,000 |
| €200,000 | 25 years | €20,000 – €35,000 |
| €300,000 | 30 years | €30,000 – €50,000 |
If your mortgage used the IRPH index, you may wish to analyse whether the clause can be challenged in court.
You can learn how the legal process works here:
These figures are only illustrative. The actual difference depends on interest rate history and the terms of the mortgage.
How to Check if Your Mortgage Uses IRPH
The interest rate index used in a mortgage is specified in the mortgage deed.
Common references include:
- IRPH Entidades
- IRPH Cajas
- IRPH Bancos
If one of these appears in the mortgage contract, your loan may have been calculated using IRPH.
You can learn how to identify the clause by reading our guide on how to review an IRPH mortgage deed in Spain.
Why IRPH Mortgages Have Been Challenged
Many borrowers argue that banks did not adequately explain how IRPH works before the mortgage contract was signed.
European consumer protection law requires banks to provide clear information about mortgage conditions.
If the clause was not transparent, courts may declare it abusive.
You can read about the legal background in our analysis of the IRPH CJEU ruling in Spain.
What to Do if Your Mortgage Uses IRPH
Borrowers who discover that their mortgage uses IRPH may wish to seek legal advice to determine whether the clause can be challenged.
In some cases, courts may:
- remove the IRPH clause
- recalculate mortgage interest
- order banks to refund overpaid interest
You can learn more about the process in our guide on IRPH claims in Spain.
Frequently Asked Questions
How accurate is an IRPH calculator?
An IRPH calculator provides an estimate based on general assumptions. A precise calculation requires a full analysis of the mortgage contract and payment history.
How much money can borrowers recover?
Many borrowers paid thousands of euros more under IRPH than they would have paid under Euribor. The exact amount depends on the mortgage terms.
Can foreign homeowners use an IRPH calculator?
Yes. Foreign property owners in Spain may also estimate the impact of IRPH on their mortgage.
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
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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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