Financial Services Industry
Industry: Email Alert RSS FeedEuro-mortgage plans inch closer to reality.
Financial Adviser, March, 2007
The European Parliament has voted to adopt the European Commission's green paper on mortgage credit, bringing the creation of a Euro-mortgage closer to reality.
The commission will now consult on the green paper, with a view to producing a white paper in spring 2007. This would then likely be followed by a directive. John Purvis, MEP and rapporteur for the Committee on Economic and Monetary Affairs, presented the proposals to the European Parliament ahead of its vote.
He wants to remove barriers to borrowers wishing to shop across EU borders, in order to increase choice and drive down costs. He also wants the European Commission to look at pan-EU regulations for mortgage brokers, as the regulatory environment is very different across Europe. Although...
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