Directives on Credit Agreements for Consumers Relating to Residential Immovable Property

Official Journal o the European Union

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Date Published 2014
Primary Author European Parliament and the Council of the European Union
Other Authors
Theme Consumer Protection / Mandatory Disclosure


In March 2003, the Commission launched a process of identifying and assessing the impact of barriers to the internal market for credit agreements relating to resi­dential immovable property. On 18 December 2007, it adopted a White Paper on the Integration of EU Mortgage Credit Markets. The White Paper announced the Commission’s intention to assess the impact of, among other things, the policy options for pre- contractual information, credit databases, creditwor­thiness, the annual percentage rate of charge (APRC) and advice on credit agreements. The Commission established an Expert Group on Credit Histories to assist the Commission in preparing measures to improve the accessibility, comparability and completeness of credit data. Studies on the role and operations of credit intermediaries and non-credit institutions providing credit agreements relating to residential immovable property were also launched.

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