Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-06-19-Speech-2-326"
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"en.20070619.44.2-326"2
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".
Buying residential property represents a difficult and time-consuming challenge for consumers. Legal and fiscal matters are big challenges, even in one’s own Member State. These challenges are only exacerbated when consumers are purchasing a residential property outside their Member State: procedures often are completely different from the ones in place ‘at home’.
While the Commission is fully aware of these facts, there is no simple answer. Taxation and property laws that lie at the origin of the complexity fall largely outside the scope of Community competence.
Nevertheless, the Commission supports initiatives that promote transparency in European housing and mortgage-lending markets. Transparency is particularly important for consumers, especially where rules vary from one country to the next. Consumers need full and accurate information to be able to make an informed choice when buying a property in another Member State.
The request for an information leaflet for consumers purchasing property has also been made within our ongoing review of the European mortgage credit markets, where stakeholders suggested that the Commission create and maintain an online guide to the main legal and other issues relating to cross-border lending. I am in favour of such initiatives. Buying property across borders is a natural consequence of the freedoms that constitute the essence of the Single Market. Where consumers face practical problems or lack of information, we must try to help them, for example by pointing out what problems they may encounter and by pointing them in the direction of the relevant bodies and authorities that can assist them.
The Commission will look into these issues and see what is feasible. But let me be honest: this is not an easy task. The Commission does not necessarily have access to all the information that would be required, nor would we necessarily have the means to verify that such information is accurate or up to date. Before moving ahead, we must be certain that we can overcome this challenge. Working together with third parties may also be an option."@en1
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