Study on impacts of a possible revision of the Mortgage Credit Directive : executive summary

This report presents the findings of a study conducted by ICF on behalf of the European Commission's Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) to provide evidence and analysis to support the Commission's formal evaluation of the Mortgage Credit Directive (MCD) and in view of a possible impact assessment of the MCD. The core objective of the study was to explore the existence and scale of problems in the current EU regulatory framework on mortgages, including problems encountered by consumers, industry, and regulators. The study identified possible policy measures (legislative and non-legislative) that could be introduced at EU level to address the identified problems, and assessed their likely effectiveness, efficiency, coherence, and wider impacts, following the approach for an impact assessment specified in the EU Better Regulation Guidelines and Toolbox.