CML Applaud European Commission _ Euro Mortgage

CML Applaud European Commission

European Wide Mortgages

The Council of Mortgage Lenders CML has praised the European Commission’s decision not to recommend a mortgage directive without further study.  There is currently almost no cross-border shopping for mortgages and for the foreseeable future consumers appear likely to prefer to deal with an institution based in their own country.  

The CML said that the best way of promoting a greater degree of integration would be for the European Commission to make it easier for financial institutions to operate in different member states.  It is still difficult and costly for lenders when systems of property ownership, land registration and the legal systems that apply to the mortgage process are very different across European states.

Our view

A common approach to mortgage security, land registry title instigated by the European Commission is an absolute must for any integration across European borders.

Useful links:

Learn more about a european mortgage and related topics in the Mortgage Channel 

Request expert financial advice now

Purchase guidance on financial planning in the Money Shop 

Back to News Summary