Euribor versus IRPH

 Hi, I'm new to the site so please be patient. ! 

We have had a mortgage in Spain with UCI for 6 years. We didn't know at the time that our rate was based on the IRPH not the Euribor. It seems to be much more expensive - does anyone have any information on this rate? 

Thanks

 The IRPH will always be higher than the Euribor rate.

I belive the calculation for IRPH is more based on their own lending rates for long term loans, which will always attract a higher interest rate in comparison with a mortgage type rate such as the Euribor.

The problem at the moment is that the IRPH is a much more stable rate than the Euribor, so as the Euribor has gone down, the IRPH rate has remained high.  IRPH doesn't seem to change very much over long periods of time, which would benefit you should the Euribor be shooting upwards, but count against you when the opposite happens.

That's my understanding of it!

Justin

Great find Keith!

It worryingly shows how much the gap is increasing between the two, especially at the start of this year.

Justin

IRPH has always been higher than Euribor rates and going way back when (2003 I think) UCI couldnt even explain to me how they calculated their chargeable rate which is sometimes even higher than the IRPH