Property News · June 7, 2013

EU mortgage rules will create confusion, industry experts warn


Rules to require mortgage lenders to display an additional historic interest rate figure is labelled ‘completely mad’Mortgage lenders may soon have to tell borrowers the maximum interest rate they have charged during the past two decades when they advertise their loans, in a move that industry figures have warned could cause “absolute confusion” among consumers.Proposals in an EU mortgage credit directive agreed in April and expected to be approved by the European parliament later this year require mortgage lenders to display an additional interest rate figure on all literature. Continue reading…

Source : theguardian.com
Read more…EU mortgage rules will create confusion, industry experts warn

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