Council of the European Union and European Parliament 4 February 2014, Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 Text with EEA relevance

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Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 establishes a common regulatory framework for credit agreements for consumers relating to residential immovable property, with the dual objectives of creating an efficient and competitive internal market and ensuring a high level of consumer protection. Key provisions mandate pre-contractual disclosure through a standardised European Standardised Information Sheet (ESIS), a uniform methodology for calculating the Annual Percentage Rate of Charge (APRC), thorough creditworthiness assessments prior to credit granting, and harmonised admission and supervision requirements for creditors, credit intermediaries, and appointed representatives. Member States are required to transpose the Directive by 21 March 2016 and apply its measures from that date, with maximum harmonisation applying specifically to the ESIS pre-contractual information requirements and the APRC calculation methodology, while permitting more stringent national provisions in other areas.AI