The Civil Chamber of the Supreme Court has suspended the plenary session of last Wednesday in which it was going to take up again the appeals on the mortgages referred to the IRPH months after Europe left them in the hands of the Spanish judges.
The reason for this postponement is that the president of the Civil Chamber, Francisco Marín Castán, is in quarantine for having been in contact with a positive for coronavirus.
Wednesday's plenary session was set for the vote and ruling on five appeals admitted for processing, a meeting that both consumers affected by personal income tax and banks, with a portfolio of more than 16 billion in these mortgages, were waiting for.
Created in 1994, the IRPH is an official index produced monthly by the Bank of Spain. Although since 2002, variable rate mortgages are calculated using the one-year Euribor reference, the IRPH is the second most used reference.
Complaints about its use as the main index were triggered between 2013 and 2016 when it stabilised at values close to 2%, while the Euribor began to approach zero, falling into negative territory. In this scenario, associations of affected people emerged throughout the country. Read more
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