04 Feb 2011 3:32 PM:

The Euribor is a better bet than the IRPH, I was tricked in 2005 by La Caixa believing I had a Euribor + 0.85% mortgage, only when I queried why my mortgage had gone up so much when the Euribor was low was I told that I had signed for the IRPH mortgage. My solicitor should have discussed this with me and ensured that I was signing for what I had agreed to.

Basically, the IRPH is the savings club (which many of the supposed banks are) elective rate, they can decide to set it at whatever they like to suit their profit requirements.

Even though the Euribor rate is going up, it's still way below the IRPH level.

ps, My UK mortgage is bank base rate + 0.85% !!  Lucky me for a change.

Best wishes,

Bob

Thread: euibor

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