Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-10-03-Speech-3-361"
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"en.20011003.13.3-361"2
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"Mr President, I express my sincere appreciation of Mr Radwan’s motion for a resolution regarding pre-contractual information for home loans.
There is no doubt that work to reorganise and tidy up this rather confused sector has now begun. Unfortunately, some debatable if not downright censurable behaviour has been seen on the part of European lenders.
The importance of the work that has been done lies essentially in the fact that for the first time a collection of indications and regulations is not the result of self-regulation, as has often happened in the past. I refer to the inter-bank agreements on conditions, in which the banks dictated the rules more so as not to have to face fierce competition within the sector rather than to set up transparent contractual schemes to supply to the end-customers, but by means of an agreement, even though a voluntary one, between banks and consumers’ associations.
Also important is the choice of transparency and publicity laid down in Articles 21, 22, 23 and 24 of the Code itself, and especially Article 25, which states that an offer made over the Internet should be made in accordance with the European scheme and in compliance with all the provisions and indications that are laid down.
In conclusion, I should like to point out that this code will require further additions and corrections. The practical stage will be to give the necessary indications. I am just troubled by the fact that the committee did not accept an amendment I tabled to set a limit – the total amount – on the loan to be registered. My reason for this amendment was the fact that in some Member States the credit institutions triple the loan figure registered compared with the amount actually lent, which is doubly harmful to the consumer: first, there is a question of image, in that, to an inexperienced person the debt might appear to be three times as large as it really is; and secondly, a matter of costs, particularly notarial costs, which are calculated on the registered amount of the loan. I hope that in future this aspect can be reconsidered."@en1
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