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EN
COMMISSION OF THE EUROPEAN COMMUNITIES
Brussels, 19.7.2005
COM(2005) 327 final
GREEN PAPER
Mortgage Credit in the EU
(presented by the Commission)
EN
2
EN
TABLE OF CONTENTS
INTRODUCTION...................................................................................................................... 3
I
ASSESSING THE CASE FOR COMMISSION ACTION......................................... 4
II
CONSUMER PROTECTION...................................................................................... 6
Information................................................................................................................................. 6
Advice Provision and Credit Intermediation.............................................................................. 7
Early Repayment ........................................................................................................................ 7
Annual Percentage Rate ............................................................................................................. 8
Usury Rules and Interest Rate Variation.................................................................................... 9
Credit Contract ........................................................................................................................... 9
Enforcement & Redress ........................................................................................................... 10
III
LEGAL ISSUES ........................................................................................................ 10
Applicable Law ........................................................................................................................ 10
Client Credit-Worthiness.......................................................................................................... 11
Property Valuation ................................................................................................................... 11
Forced Sales Proce