Projekte

Title

Monitoring the uptake and the effectiveness of the Voluntary Code of Conduct on Pre-contractual Information for Home Loans

Principal

European Commission

Year

2003

State

Finished

Report

Format: pdf
Language: English
Pages: 68
Size: 1861KB

Object of survey

The object of the survey is to verify that the European Credit Sector Association (ECSA) on the one hand and those credit and financial institutions having registered their adhesion to the European Agreement on a Voluntary Code of Conduct on Pre-contractual information for home loans on the other hand actually fulfil their commitments. The Agreement was made on 5 March 2001 between four European consumer organizations and seven professional bodies representing the financial and credit institutions offering home loans. The first element of verification is therefore to analyse the ECSA´s policy. The verification of the other commitments should be made on a sample that is statistically significant. The significance should be in terms of the nature of the financial institutions (cf. the professional bodies of industry having signed the code), the size of the Member State and the geographical location.

Survey of the iff

The project was carried out jointly in the first months of 2003 by partners in Austria, Belgium, Denmark, Finland, France, Greece, Ireland, Italy, Netherlands, Portugal and Sweden.

Credit institutions subscribing to the Code have to provide to the consumer

• general information about home loans on offer;
• personalised information at a pre-contractual stage to be presented in a "European Standardised Information Sheet"

Both requirements were tested separately.

Used Electronic Questionnaire

The questionnaire that was prepared contained questions on all the information that a credit institution should provide in accordance with part II of the Code of Conduct. The questionnaire is structured in a similar form to the sections for general and personalised information in the Code of Conduct. A dummy version is provided on the internet.

Contact: Achim Tiffe