Database on German and European Economic Law

 Directive 2014/17/EU

I. Description

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 will have 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.

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II. General Information

Title

Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and   2013/36/EU and Regulation (EU) No 1093/2010

Abbreviations
Mortgage Credit Directive
Status
Existing
Directive
2014/17/EU
Source
O.J. EU No L (Legislation), Edition 60, Year 2014, p.34
Adoption
02/04/2014
Promulgation
02/28/2014
Character
Lamfalussy Framework Act
Legal Basis
Art. 114 AEUV
Legislative Procedure
Codecision procedure

III. Versions and Legislative History

1. Versions

Titel
Allg. Daten
Textfassung

Original Text Mortgage Credit Directive:
Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and   2013/36/EU and Regulation (EU) No 1093/2010

  2014/17/EU

Beschluss:
02/04/2014 (A)
Verkuendung:
02/28/2014 (P)
(A) Adoption | (P) Promulgation

2. Legislative History

Datum
Typ / Titel
Textfassungen
07/25/2011
Opinion of the European Data Protection Supervisor
2011/C 377/02
07/14/2011
Opinion of the European Economic and Social Committee
2011/C 318/22
07/05/2011
Opinion of the European Central Bank
CON/2011/58
03/31/2011
Proposal
2011/0062 (COD)

3. Legal Impact

Auswirkungstyp
Richtlinie
Textfassungen
Amendment
  Directive 2013/36/EU
Amendment
  Regulation (EU) No 1093/2010
Amendment
  Directive 2008/48/EC

4. CESR Level 2

RL 2014 17 EU Hypothekarkredit-RL
CESR/

IV. Umsetzung in den Mitgliedstaaten

1. Implementation in Germany

(A) Adoption | (P) Promulgation

Legend

Legislative Act Status

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Versions
2. Legislative History
3. Legal Impact
4. CESR Level 2
IV. Umsetzung in den Mitgliedstaaten
1. Implementation in Germany