Press conference: IRPH (Benchmark Mortgage Loan Index) Stop Gipuzkoa 16/04, 11.00
IRPH (Benchmark Mortgage Loan Index) Stop Gipuzkoa
Thursday 16-4-2015,11:00, EP press room
MEPs: Josu JUARISTI ABAUNZ (EH Bildu), Marina ALBIOL GUZMÁN (IU), Miguel URBÁN CRESPO (PODEMOS)
Guests: Lawers of IRPH Stop Gipuzkoa: José María ERAUSQUIN and Maite ORTÍZ PÉREZ
On Thursday, Maite Ortiz and Jose Maria Erauskin, lawyers from the IRPH Stop Gipuzkoa platform, will attend the European Parliament's Committee on Petitions. Beforehand, they will take part in a press conference accompanied by MEPs from EH Bildu, IU and Podemos.
The IRPH is a benchmark used in mortgage loans in the Spanish state instead of the more usual Euribor, in a considerable number of contracts. According to statistics from IRPH Stop Gipuzkoa, more than 1.3 million families are affected by this index throughout the Spanish state.
The IRPH can be manipulated and it is not transparent. It does not represent the reality of the market. Although, in theory it is the average interest rates on new mortgages, the calculation does not represent a real average and includes numerous irregularities. This means that even if Euribor has been continuously falling and reaching minimum levels, the IRPH has continued rising; creating serious problems for thousands of families resulting in default and eviction for many.
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