EU-wide mortgage market proposed

Such a move could lead to lower borrowing costs for consumers as lenders attempt to compete across the 27-nation bloc. The proposal, part of a white paper, says increased integration in mortgage markets has a value to the EU economy of around €94.6bn. This equates to an average saving of €470 per year for a €100,000 mortgage. The paper does not propose new laws to integrate the European markets, instead it seeks to run the proposal on a voluntary basis. The Commission says there are a number of issues affecting such a scheme, including rules on early repayment, different financial tr...