Brussels, 20/01/2015 (Agence Europe) - The 'Mortgage Credit' Directive (2014/17) contains provisions at EU level to protect individuals taking out loans in a foreign currency after 21 March 2016 (see EUROPE 10918).
Depending on how the individual member states transpose the directive, consumers will have the right to convert their mortgage into an alternative currency and/or will benefit from an upper limit on their repayment obligations, under certain conditions. Banks will also be obliged...