TITLE

Growing concern over EU mortgage rules requiring worst-case APR

AUTHOR(S)
Dale, Samuel
PUB. DATE
May 2013
SOURCE
Money Marketing (Online Edition);5/31/2013, p14
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article reports that lenders are not happy with the European Union's (EU) new proposals which will require them to provide an extra annual percentage rate (APR) outlining the worst case scenario for borrowers. The proposals will require such APRs for every variable mortgage or fixed-rate deal under five years to show the effects of interest rates on mortgage. The British Financial Conduct Authority may consult on the details of the change, after the implementation of new rules.
ACCESSION #
88000279

 

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