‘Unfairness assessment of variable interest rates – AG Szpunar in Gómez del Moral Guasch (C-125/18)’

“In 2001 M Gómez del Moral Guasch concluded a mortgage loan contract, with a variable interest rate, with a Spanish bank in order to purchase a residential apartment. In 2017 the consumer contested the fairness of a term in that contract that determines the mechanism of calculating the variable interest rate – based on the Spanish IRPH index. The consumer claimed that it is unfair that the interest rate is not indexed pursuant to EURIBOR index, which would have been more beneficial to him and is more commonly applied to Spanish mortgage contracts (in ca 90% of all contracts – para 30) …” (more)

[JA (Joasia) Luzak, Recent developments in European Consumer Law, 10 September]

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