BANKING AND INSURANCE PRODUCTS
ACTIVITIES: DOSSIER OF LEGISLATION

 

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3RD SUBJECT: Mortgage Credit

DOCUMENTS

- The Spanish Mortgage System. ADICAE Technical Team.

- The application of the Order of Transparency and the Law of Subrogation in mortgage credits in Spain. RESOLUTION OF THE GENERAL DIRECTION OF THE REGISTERS AND NOTARIES OF 21ST JANUARY, IN RESPECT TO THE APPLICATION OF THE MINISTERIAL ORDER OF 5TH MAY 1994 TO THE CROSS BORDER LOANS, ABOUT THE TRANSPARENCY OF FINANCIAL CONDITIONS IN THE MORTGAGE CREDITS.

- The mortgage market in the European Union. ADICAE Technical Team

- Table: The role of governments in the regulation and control of the mortgage market. (Source: Study about the financial integration of the European mortgage markets, Mercer Oliver Giman.)
NATIONAL LEGISLATION

- Selection of regulation about the Mortgage as a real right in Spain. CIVIL CODE. Royal Order of 29th July 1889.

- The real right of mortgage in the Mortgage Law. MORTGAGE LAW of 8th February 1946.

- Banking Transparency Requirements that affect the mortgage credits. Bank of Spain. Circular 8/1990, of 7th September about operations transparency and clients protections.

- Financial conditions of the mortgage credit. Order of 5 May of 1994, of transparency of the financial conditions of the mortgage credits.

- Consumer Rights in the mortgage subrogation. Law 2/1994; of 30 March; of subrogation and changes of mortgage credits.
EUROPEAN LEGISLATION

- The European code of good practice in the mortgage contracting. Commission Recommendation of 1 March 2001 on pre-contractual information to be given to consumers by lenders offering home loans

DICTA AND PROPOSALS

- The Spanish Order of Transparency and the European Behaviour Code. The change “for the fall” of the Spanish Order of Transparency to adapt the European Code is very detrimental to users.

- The discussion about the harmonisation of the European Mortgage Legislation.


This project is being sponsored by the DG SANCO of the European Commission and the National Institute of Consumption of Spain.
   
 
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