Cicero Brussels Special Report - European Commission proposal for a Directive on Credit Agreements Relating to Residential Property

Seven years ago, the European Commission began work to produce a Mortgage Credit Directive that would focus on mortgage market integration. Following the economic crisis, the latter objective has been superseded by the publication today of a European Commission proposal for a Directive on "Credit Agreements Relating to Residential Property". The objective is clear: to set out rules on responsible lending and borrowing. The damage to the property, banking and mortgage markets of Portugal, Ireland, Greece, Italy and Spain necessitates the need for this European Commission proposal. Not all Member States or industry representatives might agree with the need for such across-the-board rules, but the objective of helping consumers to regain confidence in the financial system must be welcomed.

Read Cicero Consulting's Special Report on the European Commission proposal for a Directive on Credit Agreements Relating to Residential Property.

We hope you find the report useful.

To discuss further, or for more information, contact me at helena.walsh@cicero-group.com or call +32 2 7917676

With best regards,

Helena Walsh
Senior Country Officer
Cicero Brussels
helena.walsh@cicero-group.com