Press release

“Buying a house: Taking out a mortgage in a nutshell”

27 June 2018

“Buying a house: Taking out a mortgage in a nutshell”


 Brussels, 27 June 2018 – For immediate release


Becoming a homeowner is very exciting, especially for the first time, but it is also a big decision, both personally and financially.

From finding the dream home, making an offer to the seller, agreeing on a mortgage and signing the contract, every step along the road means making important choices. Choosing the right home loan is just as important as choosing the right house. Knowing your rights and understanding the process of taking out a mortgage loan is essential to make the best decision.

Therefore, to help consumers navigate their way through the mortgage process and understand their rights, the European Mortgage Federation (EMF) is delighted to announce the launch of the EMF Mortgage Guide for Consumers, which can be found via the following link:

Specifically, the Guide is intended to provide a clear and transparent overview of the different steps involved in taking out and repaying a mortgage loan, and to deliver an easy-to-understand explanation of the rules in place in the European Union (the Mortgage Credit Directive).

The Guide’s short introductory video explains in a nutshell the road ahead for taking out a mortgage and the obligations for both the borrower and the mortgage lender.

The EMF was created in 1967 to promote a sustainable housing environment for EU citizens. Hence, we are the key talking partner of the European Commission, the European Parliament, the European Supervisory Authorities, the European Central Bank and the Basel Committee on Banking Supervision on all mortgage industry-related questions. This makes the EMF ideally placed to provide a comprehensive guide to the mortgage process for European consumers.

More detailed information about each stage of the mortgage lending process can be found on the website.