New rules for responsible mortgage lending

European Parliamentary Research Service Blog

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Neue Regeln für eine verantwortungsbewusste Hypothekenkreditvergabe

Nuevas normas para la concesión responsable de hipotecas

De nouvelles règles pour des prêts hypothécaires responsables

Nuove norme in materia di concessione responsabile di mutui ipotecari

Nowe przepisy regulujące odpowiedzialne udzielanie kredytów hipotecznych

New rules for responsible mortgage lending

A new Directive on credit agreements relating to residential property aims to facilitate cross-border lending, protect consumers, and prevent irresponsible lending.

The EU mortgage market

The total value of residential mortgages in the EU exceeded €6 trillion in 2009 – more than half of EU GDP. However, there are significant differences between Member States, due to different approaches (for example fixed rate vs. variable rate mortgages) and different national regulations. Because mortgage contracts must respect the laws of the country in which the residential property is located, cross-border lending is difficult. Lenders usually gain access to a foreign market…

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