Mortgage Loans (Directive)
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Financial Markets

Mortgage Loans (Directive)

The Commission proposes a Directive serving to contribute to a “smoothly functioning internal market with a high level of consumer protection” for mortgage lending. Herein the Commission focuses on consumer protection and rules for the activities of credit intermediaries.

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Status

The EU passport for mortgage credit intermediaries removes barriers to the cross-border intermediation of mortgage loans. The professional requirements for credit intermediaries should not be too high. A credit refusal obligation in the case of a negative creditworthiness assessment is not necessary and leads to considerable legal uncertainty. Simplified conditions for early repayment can make fixed-interest credits more expensive. EBA’s arbitration powers are not covered by the EBA-Regulation.

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Mortgage Loans COM(2011) 142 (publ. 07.01.2014) PDF 104 KB Download
Mortgage Loans COM(2011) 142