IRAS is the index applied to several housing loans. For its calculation, the Bank of Spain carries out the average of the interest rates charged on loans by financial institutions. This average should be weighted, but in this case the turnover of each entity is not taken into account. Interest rates should be based on market development and the economic situation of the environment, which is not the case with IRPH.

In addition, financial institutions can manipulate the index, which is calculated on the basis of the interest they apply. A slight increase in interest rates for new mortgages is sufficient for IRPH to increase. In this way, banks can reach agreements with each other in order to achieve better performance. The Bank of Spain itself has admitted that the benchmark can be manipulated, even if it does not.

They explained to me that IRPH had fewer incidences than Euribor. I devoured the hook, whose damage I have paid for for many years. The Kutxa HMEI variant was applied to me, but it was annulled in the courts. Consequently, since then I have been applied the +1 Euribor. Had he had it from the outset, he would have depreciated an additional EUR 3,000, and he would have saved EUR 7,000 in interest.

It's a lot of money for such an ordinary family. All this in the context of the economic crisis, when many people have remained unemployed, and IRPH has left many families in a precarious situation. In many cases, the loss of the index has been determinant for many people to become involved in the dismissal process. Fortunately, I have work and for basic needs we have not had a lack of money. However, many families cannot say the same. There are people who have to pay an extra EUR 300 per month.

HMEI Stop

To combat this situation, about five years ago we set up the HMEI Stop platform at Gipuzkoa. We have brought our demands to the institutions, where we have managed to make a number of statements against IRPH. Kutxabank is asked for two things: the cancellation of the index and the return of the money lost by the customers. However, at the moment none of this has happened, as in the board of directors other parties, except EH Bildu, Podemos and Ezker Anitza-IU, support IRPH.

In any case, significant steps have been taken in the courts in recent times. Two of the three variants of PHRI are already out of date. In addition, in some places, such as Bizkaia or Álava, the index has been declared null in a second instance, which may vary slightly. Unfortunately, the members of our platform were the first to go to court, and the Provincial Court and the Supreme Court closed our way. That is true, our struggle has served many others affected.

Now, many cases are in the Supreme. I have no great hopes. Justice is committed to the interests of the banks, as are the main parties of the Spanish State. It is regrettable that IRPH remains in force, given that we are in Hego Euskal Herria in 40,000 people and in the entire state in about 1.3 million. And we must not forget that there are also the preferred ones and the ground clauses. Ours is nothing more than a variant of financial institutions' fraud.