Equity release dropped from CCD proposal

In the latest version of the CCD-Proposals, the document excludes all credits “secured either by a mortgage on immovable property or by another comparable surety commonly used in a Member State”, which means mortgage equity withdrawal loans have been removed from the proposals. The move has been welcomed by the European Mortgage Federation (EMF), which claims equity release, being mortgage loans, do not fit into a legal framework specifically designed to address consumer credit products. Matthias Tierner, head of legal affairs at the EMF, states the organisation is pleased at the decisi...