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Mortgage credit


The Mortgage Credit Directive 2014/17/EU on credit agreements for consumers relating to residential immovable property was adopted on 4 February 2014. This Directive aims to create a Union-wide mortgage credit market with a high level of consumer protection. It applies to both secured credit and home loans. Member States had to transpose its provisions into their national law by March 2016.

The main provisions include consumer information requirements, principle based rules and standards for the performance of services (e.g. conduct of business obligations, competence and knowledge requirements for staff), a consumer creditworthiness assessment obligation, provisions on early repayment, provisions on foreign currency loans, provisions on tying practices, some high-level principles (e.g. those covering financial education, property valuation and arrears and foreclosures) and a passport for credit intermediaries who meet the admission requirements in their home Member State.

More information:

National Competent Authorities and Single Contact Points under the Mortgage Credit Directive

Article 5.4 of the Mortgage Credit Directive (2014/17/EU) requires Member States to inform the Commission and the EBA of the designation of the competent authorities and any changes thereto as soon as possible and at the latest on 21 March 2016.

Article 5.7 requires the Commission to publish a list of the competent authorities in the Official Journal of the European Union at least once a year, and update it continuously on its website.

Since not all Member States managed yet to communicate their competent authorities by 21 March 2016, we decided to already publish a provisional list of competent authorities on FISMA's webpage in order to facilitate the pass-porting of credit intermediaries into other Member States.

Once this list will be more comprehensive, we shall also publish it in the Official Journal of the European Union.

We also attach a list of Single Contact Points which Member States are required to set up under Article 36.1 of the Directive.

Calculation of the Annual Percentage Rate of Charge (APRC)

Directive 2014/17/EU contains assumptions for the calculation of the annual percentage rate of charge (APRC).

A simulator based on these assumptions is available below to help users (including regulators, consumers, creditors) calculate the APRC of a given credit. This Excel tool complements the simulator existing for consumer credits.

The simulator is accompanied by a report presenting 44 notional examples and a description on how to use the tool.

Disclaimer: The simulator and examples have been provided by a contractor for DG FISMA and represent her views on the matter. These views have not been adopted or in any way approved by the Commission and should not be relied upon as a statement of the Commission’s or DG FISMA’s views. The European Commission does not guarantee the accuracy of the data included in the report and simulator, nor does it accept responsibility for any use made there.

19.09.2014 – Adoption of the Commission Delegated Regulation (EU) No 1125/2014 of 19 September 2014
04.02.2014 – Adoption of the Mortgage Credit Directive
10.12.2013 – The European Parliament adopts the Mortgage Credit Directive

The European Parliament confirmed its willingness to make the mortgage credit sector subject to heightened consumer protection measures at EU level by approving the new rules on mortgage credit lending.

31.03.2011 – Commission adoption of a proposal for a Directive on credit agreements relating to residential property

COM(2011)142 + Corrigendum of 20.5.2011 of the Bulgarian, Danish, German, Lithuanian and Dutch versions

Useful documents:

Code of conduct

Information about the Code of conduct on pre-contractual information for home loans, including a list of the mortgage lending institutions who have agreed to comply with it.


Study on the costs and benefits of different policy options for mortgage credit

Contract award notice 2009/S 21-029009
Call for tender 2008/S 139-185318
Contract award notice 2008/S 134-178130
Call for tender 2008/S 59-079217

Study on equity release schemes in the EU

18.3.2009Final report of the study

Study on the role and regulation of non-credit institutions in EU mortgage market

The European Commission has published a study on the activities, regulation and supervision of mortgage lenders that are not defined as ’credit institutions’ under EU law. The study, which is a follow-up to the White Paper on the Integration of EU Mortgage Credit Markets, will contribute to the Commission’s assessment of whether further action in this area is needed at EU level.

30.3.2009Feedbackpdf(33 KB) Choose translations of the previous link  on the comments received
Comments authorised for publication:
2.12.2008Final reportpdf(699 KB) Choose translations of the previous link  of the study 
Annexpdf(2 MB) Choose translations of the previous link 
Press release, IP/08/1855

Study on consumer testing of possible new format and content for the European Standardised Information Sheet (ESIS) on home loans

October 2009Final reportpdf(2 MB) Choose translations of the previous link  of the study
13.5.2009Stakeholder Workshop
27.12.2008Contract award notice, 2008/S 251-335008
7.6.2008Call for tender, 2008/S 110-146927

Study on the costs and benefits of integration of EU mortgage markets

13.9.2005Press release, IP/05/1134
5.8.2005Studypdf(2 MB) Choose translations of the previous link  on the costs and benefits of integration of EU mortgage markets   
Midday Express, MEX/05/0805

Government Expert Group on Mortgage Credit (GEGMC): Meetings

The Government Expert Group on Mortgage Credit was established in early 2005 to advise the Commission on its policy on mortgage credit. It is composed of Member State representatives from all EU Member States, plus some EFTA countries. Representatives come from a range of bodies, including Ministries of Finance, Ministries of Justice, financial regulators, etc. Its main tasks are to assist the Commission in the definition and development of its mortgage credit policy.

Before 2014


On the Archives page more information on:

  • Consultation & hearing on responsible lending and borrowing
  • White Paper on the Integration of EU mortgage credit markets
  • Green Paper on Mortgage credit in the EU
  • Government Expert Group on Mortgage Credit (GEGMC)
  • Mortgage Funding Expert Group (MFEG)
  • Mortgage Industry and Consumer Dialogue (MICEG)
  • Public hearing on mortgage credit
  • Forum Group on Mortgage Credit