Regulation, not directive, could determine APRs

Since regulations - unlike directives - are automatically enforced by member states without recourse to national level debate or interpretation, the danger is the UK market would be forced to switch to using the Annual Percentage Rate of Charge (APRC) proposal in the European Commission's Green Paper on mortgages. As European Parliament Rapporteur on mortgage credit, Purvis will lead the debate next week when the full Parliament debates the paper and its formal response as part of the EU legislative process. He says the APRC issue is far from a done deal given the lobbying set to take pl...