Regulatory Alerts2024-08-29
AFM Guidance on Tailored Mortgage Advice for Energy-Saving Measures
The Dutch Authority for the Financial Markets (AFM) issued guidance in August 2024 allowing mortgage advisors to provide tailored advice for energy-saving home improvements, reducing information requirements while maintaining consumer protection. This approach permits advisors to rely on previously collected data to assess affordability and loan-to-value ratios, thereby lowering costs and processing time for consumers seeking additional mortgage financing. The regulator emphasizes that advisors must still verify the customer's specific needs and financial situation to ensure the advice remains responsible and compliant with the Financial Supervision Act.
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