Euribor versus IRPH

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03 Apr 2012 00:00 by andyfamily Star rating in Hertfordshire. 25 posts Send private message

 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

 





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03 Apr 2012 18:39 by EOS Team Star rating in In Spain of course!. 4017 posts Send private message

EOS Team´s avatar

 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



_______________________

Schools in Spain Guide | The Expat Files | Learn Spanish | Earn a living in Spain




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03 Apr 2012 22:08 by Keith110 Star rating in the UK and I am lead.... 682 posts Send private message

2010-2011-2012

IRPH Bancos

IRPH Cajas

IRPH Entidades

CECA

Euribor

Diferencia IRPH-Euribor

Junio 2010

2,443

2,921

2,709

4,500

1,281

1,428

Julio 2010

2,432

2,924

2,705

4,,125

1,373

1,332

Agosto 2010

2,543

2,938

2,766

5,000

1,421

1,345

Septiembre 2010

2,652

2,927

2,799

5,125

1,420

1,379

Octubre 2010

2,600

2,963

2,795

4,875

1,495

1,300

Noviembre 2010

2,627

3,002

2,825

4,750

1,541

1,284

Diciembre 2010

2,593

2,945

2,774

4,750

1,526

1,248

Enero 2011

2,679

3,144

2,918

5,000

1,550

1,368

Febrero 2011

2,786

3,132

2,962

4,875

1,714

1,248

Marzo 2011

2,935

3,294

3,120

5,000

1,924

1,196

Abril 2011

3,115

3,327

3,226

4,875

2,086

1,140

Mayo 2011

3,238

3,471

3,355

5,250

2,147

1,208

Junio 2011

3,355

3,559

3,458

5,375

2,144

1,314

Julio 2011

3,446

3,624

3,540

5,250

2,183

1,357

Agosto 2011

3,467

3,590

3,533

5,750

2,097

1,436

Septiembre 2011

3,428

3,694

3,570

5,500

2,067

1,503

Octubre 2011

3,504

3,659

3,586

5,875

2,110

1,476

Noviembre 2011

3,641

3,747

3,696

5,625

2,044

1,652

Diciembre 2011

3,509

3,739

3,626

5,125

2,004

1,622

Enero 2012

3,629

3,793

3,716

5,375

1,837

1,879

Febrero 2012

3,508

3,946

3,737

5,500

1,678

2,059



_______________________

LEY 57/1968
CLICK HERE FOR THE BANK GUARANTEES IN SPAIN WEBSITE

       
      

fpag@btinternet.com




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03 Apr 2012 23:13 by EOS Team Star rating in In Spain of course!. 4017 posts Send private message

EOS Team´s avatar

Great find Keith!

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

Justin



_______________________

Schools in Spain Guide | The Expat Files | Learn Spanish | Earn a living in Spain




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08 Apr 2012 14:01 by Smiley Star rating in San Pedro de Alcanta.... 2502 posts Send private message

Smiley´s avatar

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

 



_______________________

Smiley - patrick@marbellamortgages.com  www.marbellamortgages.com   www.comparetravelcash.co.uk




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