The Advocate General of the Court of Justice of the European Union (TUE) Maciej Szpunar has published on Tuesday a sentence that involves a blow to the Spanish banks. The European High Court says that clients should be compensated for the use of the Mortgage Loan Reference Index (IRPH) in mortgages.
Maciej Szpunar has stated that IRPH is not a transparent index simply because it is official and, therefore, judges can study whether it is abusive or not.
The Polish lawyer contradicts the doctrine of the Supreme Court, which endorsed it in 2017 and declared that the reference of a mortgage to an official type such as IRPH does not imply a lack of transparency or abusiveness.
These are conclusions that are not binding in the face of the future sentence , but in most cases the decision of the judges usually follows the direction set by the general lawyers. The final sentence is expected for the first quarter of next year.
Specifically, Szpunar has stated that a contractual clause that sets an interest rate based on one of the six official legal indexes that can be applied by banks to mortgages with a variable rate "is not excluded from the scope of the directive. ".
According to the criteria of The Trust Project
Know more