A clause that is ruled “Abusive” under Spanish law, inflicts harm on the consumer and benefit the professional who drafted the contract.
A clause can only be branded "Abusive" if ruled to be so by a Judge.
Variable-rate mortgages or Tracker mortgages are common in most countries and are designed to protect both the lender and borrower from unpredictable volatility by reflecting the cost to the lender of borrowing on the credit markets.
If interest rates are high then the cost to borrow is high. Conversely, if interest rates fall, the cost to borrow falls.
Over the last decade, more than 400,000 Brits have bought a Spanish property, many took out variable-rate mortgages that track the Euribor or European Interbank Offered Rate.