IRPH in Mortgages: Everything You Need to Know (2026)

The IRPH in mortgages has been a subject of discussion and uncertainty among millions of Spanish families. Unlike the popular Euribor, this index has been the cause of numerous legal disputes.

At Domoblock, we have set out to write this article to delve into the complexity of the IRPH. We will examine everything from its operation to its current legal status and the real impact it has on your mortgage. 

What is the IRPH in mortgages?

The acronym IRPH in mortgages stands for: Mortgage Loan Reference Index. It is an official indicator that some banking entities use to reference variable-rate mortgages in Spain. 

This reference is calculated based on the average interest rate of mortgages offered by the banking entities themselves. This particularity has been the main reason for criticism and controversy. 

You might also be interested in: fixed, variable mortgage or mixed.

Types

In the past, the IRPH in mortgages came in various forms. Over time, regulations evolved, and the number of active indices was reduced. We will break down the three types of IRPH; it's worth noting that only one of them is still active today.

IRPH for savings banks

The IRPH for savings banks was a mortgage index calculated using the average interest rates of mortgages from former savings banks. Published monthly by the Bank of Spain, it ceased to be used in 2013 as part of the banking system's evolution.

IRPH for banks

It operated similarly to the previous one, but was based on the average interest rates of mortgage loans granted by banks. The Bank of Spain also published its value monthly. 

Like the previous one, it ceased to be published in 2013 as part of a reform of reference indices. 

IRPH for all entities

It is the only IRPH index that remains fully in force and continues to be officially published. It remains valid because the Bank of Spain considered it suitable to replace the previous two in contracts that referenced them. 

Order EHA/2899/2011 forced many entities to replace the discontinued indices with the current one. However, in some cases, they were unilaterally replaced by other indices without due transparency.

How do they work?

The IRPH mechanism in mortgages works like any other variable-rate mortgage: the installment is recalculated periodically by adding the index value and a differential. 

Unlike the volatile Euribor mortgage, the IRPH is a more stable but historically higher index. This stability results in higher installments for the consumer throughout the loan term.

What is the difference between Euribor and IRPH?

Although both are reference indices for variable-rate mortgage loans, their characteristics and behavior are very different. In the following comparison table, we summarize the differences.

Understanding the above differences is a starting point for understanding why the IRPH has been so controversial. 

How to know if my mortgage has IRPH?

The first thing you should do is gather and organize your loan documentation. Then, to find out if your mortgage is referenced to the IRPH in mortgages, you can follow these recommendations.

Document Review

Carefully review your mortgage deed. Look for the clause that refers to the variable interest rate. If you find any mention of IRPH, you will know that your mortgage is linked to this index.

Contact your bank

If for any reason you do not have your mortgage documentation, contact your bank and request a detailed statement. It should show the index used to calculate your installments.

Seek professional advice

Consult a mortgage law professional. These specialists are familiar with legal jargon and banking documents. Therefore, they are the right people to analyze your mortgage deed and confirm whether your loan has IRPH or another index.

How to calculate it?

The value of the IRPH in mortgages is published monthly by the Bank of Spain in the Official State Gazette (BOE). To calculate your installment, you must add the IRPH value plus the differential agreed upon in your contract. 

Then, you must apply that percentage to your outstanding mortgage capital. For example, if the IRPH is 1.986% and your differential is 0.25%, the applicable interest will be 2.236% (1.986% + 0.25%).

Can IRPH be claimed for a canceled mortgage?

Yes, it is possible to claim the abusive nature of IRPH in mortgages, even if your loan has already been canceled. The deadline for initiating legal action does not begin when the mortgage is signed or paid, but when the consumer becomes aware that the clause is abusive.

How can I tell if the IRPH is abusive?

Spanish Justice, following the guidelines of the Court of Justice of the European Union (CJEU), will analyze whether the bank complied with the "double transparency control."

1. Formal Transparency: The IRPH clause in the mortgage deed is checked to ensure it is clear, legible, and understandable to anyone.
2. Material Transparency. Did the bank inform the client about the risks of IRPH? This includes clearly explaining how the index was calculated and warning them that its value was historically higher and less volatile than other indices. 

It is vital that the bank provides you with the information clearly and precisely. If this was not the case and you were not warned about the nature of IRPH, it is likely that the clause will be considered abusive.

Advantages and Disadvantages for Consumers

Like any reference index, IRPH has two sides. Although it has a bad reputation, it offers some characteristics that could be considered an advantage, but these are overshadowed by the economic disadvantages it entails. 

Advantages

• Stability. IRPH in mortgages is stable. This eliminates the risk of sudden increases in installments during times of economic uncertainty.
• Predictability. Its low fluctuation allows consumers to have greater predictability in their monthly payments.

Disadvantages

• Higher cost. The value of IRPH has always been higher than that of Euribor.
• Lack of transparency. The value is calculated using data from the banks themselves, which has raised doubts about whether it is an objective index.
• Difficulty in comparison. The complexity of IRPH calculation makes it difficult to compare with other indices, such as Euribor. 

The main advantage of the IRPH, its stability, is outweighed by the disadvantage of its high cost. It's crucial to understand both sides to comprehend how this index affects your finances.

Legal Status of the Mortgage IRPH in Spain in 2026

The legal status of the IRPH remains complex. The Court of Justice of the European Union (CJEU) requires Spanish judges to analyze the transparency of the clause, but has not declared it abusive by default. Therefore, each case must be evaluated individually.

Frequently Asked Questions (FAQs)

How much does a lawyer charge to claim IRPH?

Generally, lawyers work on a percentage of the amount recovered.

What is the current value of the IRPH?

The IRPH value is updated monthly. Consult the Official State Gazette (BOE) or authorized websites.

How can I claim IRPH?

Contact a specialist to analyze your case and guide you through the negotiation or legal claim process.

What do I need to claim IRPH?

The mortgage deed, receipts for paid installments, and any other documentation related to the loan.

What is the deadline for claiming IRPH?

Current jurisprudence does not define a clear statute of limitations for abusive clauses. 

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Conclusion

The IRPH mortgage index marked a milestone in the Spanish mortgage market. Although it is rarely used now, thousands of families continue to be affected. If your mortgage has this index, it is crucial to seek legal advice to protect your finances. At Domoblock, we can help you, contact us!