EU Mortgage Credit Directive—essentials

Copyright © 2025 LexisNexis
Published by a LexisNexis EU Law expert
Practice notes

EU Mortgage Credit Directive—essentials

Copyright © 2025 LexisNexis

Published by a LexisNexis EU Law expert

Practice notes
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The Mortgage Credit Directive 2014/17/EU (MCD) lays down a common framework for laws, regulations and administrative provisions of EU Member States in relation to agreements covering credit for consumers secured by a mortgage or otherwise relating to residential immovable property. This Practice Note looks at the background to the MCD, its purpose and scope, and some of its key provisions.

For information about how the MCD was implemented in the UK, see Practice Note: Mortgage Credit Directive Order 2015 (MCD Order)—essentials.

Adoption and implementation of the Mortgage Credit Directive

The MCD was published in the Official Journal of the EU on 28 February 2014 and entered into force on 21 March 2014. The MCD had to be implemented by Member States within two years (by 21 March 2016).

The MCD seeks to:

  1. •

    prevent the repetition of irresponsible lending and borrowing practices

  2. •

    create a more efficient and competitive single market for mortgages

  3. •

    foster consumer confidence and customer mobility, and

  4. •

    establish a level playing field and promote cross border activity

Level of harmonisation of

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Jurisdiction(s):
European Union

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