BETA

5 Amendments of Hans-Peter MAYER related to 2011/0062(COD)

Amendment 115 #
Proposal for a directive
Recital 32
(32) A consumer’s ability to repay his credit prior to the expiry of his credit agreement may play an important role in promoting competition in the single market and the free movement of EU citizens. However, substantial differences exist between the national principles and conditions under which consumers have the ability to repay and the conditions under which such early repayment can take place. Whilst recognising the diversity in mortgage funding mechanisms and the range of products available, certain standards with regard to early repayment of credit are essential at Union level in order to ensure that consumers have the possibility to discharge their obligations before the date agreed in the credit agreement and the confidence to shop around for the best products to meet their needs. Member States should therefore ensure, either by legislation or by means of contractual clauses, that consumers have a statutory or contractual right to early repayment; nevertheless, Member States should be able to define the conditions for the exercise of such a right. These conditions may include time limitations on the exercise of the right, different treatment depending on the type of the borrowing rate, whether fixed or variable, restrictions with regard to the circumstances under which the right may be exercised. Member States could also provide that the creditor should be entitled to fair and objectively justified compensation for potential costs directly linked to early repayment of the credit. In any event, if the early repayment falls within a period for which the borrowing rate is fixed, exercise of the right may be made subject to the existence of a speciallegitimate interest on the part of the consumer. Such speciallegitimate interest may for example occur in case of divorce or unemployment. Where a Member State chooses to lay down such conditions, these should not make the exercise of the right excessively difficult or onerous for the consumer.
2011/10/27
Committee: IMCO
Amendment 228 #
Proposal for a directive
Article 14 – paragraph 2 – point a
(a) Where the assessment of the consumer’s creditworthiness results in a negative prospect for his ability to repay the credit over the lifetime of the credit agreement, the creditor refuses credit.deleted
2011/10/27
Committee: IMCO
Amendment 241 #
Proposal for a directive
Article 14 – paragraph 4
4. Further to assessing a consumer’s creditworthiness, Member States shall ensure that creditors and credit intermediaries obtain the necessary information regarding the consumer’s personal and financial situation, his preferences and objectives and consider a sufficiently large number of credit agreements from their product range in order to identify products that are not unsuitable for the consumer given his needs, financial situation and personal circumstances. Such considerations shall be based on information that is up to date at that moment in time and on reasonable assumptions as to the consumer’s situation over the term of the proposed credit agreement.deleted
2011/10/27
Committee: IMCO
Amendment 264 #
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 1
Member States may provide that the exercise of the right referred to in paragraph 1 is subject to certain conditions. Such conditions may include time limitations on the exercise of the right, different treatment depending on the type of the borrowing rate, or restrictions with regard to the circumstances under which the right may be exercised. Member States may also provide that the creditor should be entitled to fair and objectively justified compensation for potential costs directly linked to early repayment of the credit. In any event, if the early repayment falls within a period for which the borrowing rate is fixed, exercise of the right may be made subject to the existence of a speciallegitimate interest on the part of the consumer.
2011/10/27
Committee: IMCO
Amendment 269 #
Proposal for a directive
Article 18 – paragraph 2 – subparagraph 2
Where a Member State lays down such conditions, these shall not make the exercise of the right referred to in paragraph 1 excessively difficult or onerous for the consumer.deleted
2011/10/27
Committee: IMCO