Regulatory Alerts2023-12-06
Order on Good Practice for Mortgage Credit
The Danish Financial Supervisory Authority issued this order to implement EU directives regarding mortgage credit agreements, establishing strict standards for financial institutions and intermediaries. It mandates honest, transparent, and loyal conduct, prohibiting misleading or aggressive commercial practices while enforcing rigorous pre-contractual disclosure requirements. The regulation further specifies formal contract conditions, including notice periods for changes to interest rates and fees, and requires clear marketing information to protect consumer economic interests.
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