Cost Reduction in the Event of Early Repayment Under the Mortgage Credit Directive: A Surprising U-turn After Lexitor

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11220%2F23%3A10466759" target="_blank" >RIV/00216208:11220/23:10466759 - isvavai.cz</a>

Výsledek na webu

<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=Bc8hV8Co78" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=Bc8hV8Co78</a>

DOI - Digital Object Identifier

—

Jazyk výsledku

angličtina

Název v původním jazyce

Cost Reduction in the Event of Early Repayment Under the Mortgage Credit Directive: A Surprising U-turn After Lexitor

Popis výsledku v původním jazyce

One of the important features of consumer credit law is the right of the consumer to early repayment, leading to a corresponding reduction in the total cost of the credit. Both Article 16(1) of the Consumer Credit Directive (CCD) and Article 25(1) of the Mortgage Credit Directive (MCD) provide for &quot;such reduction consisting of the interest and the costs for the remaining duration of the contract&quot;. At first glance, it appears that both provisions, having the same wording, are to be interpreted identically. Therefore, it seemed like a safe bet that the question if costs that are independent of the duration of the credit shall be included in the reduction will be answered in the same way regarding consumer credits and mortgage credits to consumers. In the 2019 Lexitor judgment the Court of Justice of the EU (Court, ECJ) had decided that under the CCD &quot;the right of the consumer to a reduction in the total cost of the credit in the event of early repayment of the credit includes all costs imposed on the consumer.&quot; In UniCredit Bank Austria AG in essence the same question was brought before the Court in the context of the MCD - and as a surprise for many observers (including the authors) the Court decided in the opposite way.

Název v anglickém jazyce

Cost Reduction in the Event of Early Repayment Under the Mortgage Credit Directive: A Surprising U-turn After Lexitor

Popis výsledku anglicky

One of the important features of consumer credit law is the right of the consumer to early repayment, leading to a corresponding reduction in the total cost of the credit. Both Article 16(1) of the Consumer Credit Directive (CCD) and Article 25(1) of the Mortgage Credit Directive (MCD) provide for &quot;such reduction consisting of the interest and the costs for the remaining duration of the contract&quot;. At first glance, it appears that both provisions, having the same wording, are to be interpreted identically. Therefore, it seemed like a safe bet that the question if costs that are independent of the duration of the credit shall be included in the reduction will be answered in the same way regarding consumer credits and mortgage credits to consumers. In the 2019 Lexitor judgment the Court of Justice of the EU (Court, ECJ) had decided that under the CCD &quot;the right of the consumer to a reduction in the total cost of the credit in the event of early repayment of the credit includes all costs imposed on the consumer.&quot; In UniCredit Bank Austria AG in essence the same question was brought before the Court in the context of the MCD - and as a surprise for many observers (including the authors) the Court decided in the opposite way.

Druh

J_ost - Ostatní články v recenzovaných periodicích

CEP obor

—

OECD FORD obor

50501 - Law

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2023

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Journal of European Consumer and Market Law

ISSN

2364-4710

e-ISSN

—

Svazek periodika

12

Číslo periodika v rámci svazku

4

Stát vydavatele periodika

DE - Spolková republika Německo

Počet stran výsledku

4

Strana od-do

164-167

Kód UT WoS článku

—

EID výsledku v databázi Scopus

—