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New protection for people taking on mortgages: The Austrian mortgages and real-estate credit act
The mortgages and real-estate credit act (Federal Law Gazette I 2015/135) implements the Directive on Residential Property Credit Agreements 2014/17/EU, which deals with credit agreements for consumers buying residential immovable property. The consumer credit act remains in force but is no longer to be applied to cases subject to the mortgages and real-estate credit act.
The mortgages and real-estate credit act (Federal Law Gazette I 2015/135) implements the Directive on Residential Property Credit Agreements 2014/17/EU, which deals with credit agreements for consumers buying residential immovable property. The consumer credit act remains in force but is no longer to be applied to cases subject to the mortgages and real-estate credit act.
Complete article in German