Since the changes to the mortgage tax rules in Spain back in November 2018 (actos juridicos documentados), which are now in favour of the consumer rather than the lender, we at Fluent Finance Abroad have been busy working on a re-mortgage package specifically designed for clients who are not happy with their current Spanish mortgage terms.
Year: 2019
Fluent Finance Abroad supports Butterfly Children charity
Every year the team from Fluent Finance Abroad likes to help with a bit of sponsorship for Debra Spain and their annual golf event, which is held in Marbella at the Aloha Golf club in Nueva Andalucía.
The Mortgage Loan Reference Index
Our next feature in our series regarding claims against Spanish banks is mortgage interest rates calculated against the IRPH or The Mortgage Loan Reference Index, which was an alternative to the Euribor and is basically another reference for calculation of the mortgage interests. IRPH was sold to the public as a stable and less volatile alternative to Euribor, but resulted to be entirely controlled by the bank entities themselves, being an even more expensive one for customers than the Euribor index. Although, in some sense it is stable: it has always been several points higher than the Euribor and given today’s Euribor historical lows, IRPH is extremely expensive. As an Index it is never fixed, so it should have never been sold as a more stable index than other alternatives.
