| Abstract [eng] |
Consumer Protection in Mortgage Loan Relations The Law on Credit Relating to Immovable Property, which is going into effect on 1st July, 2017, reforms the current regulation of mortgage home loans. This master thesis is orientated to address how much the new regulation solves existing problems of the current regulation of mortgage home loans. Accordingly, in this master thesis it is first analyzed what is the regulation of mortgage home loans until 1st July, 2017, and the drawbacks of the current regulation are identified. After this the new regulation is being addressed by analyzing all rights and duties of the parties that are established in the Law on Credit Relating to Immovable Property. Finally, the author of the thesis evaluates, whether the new regulation actually solves the problems of the current regulation that were identified before. The author of the master thesis makes a conclusion that the current regulation is not sufficient considering a specific nature of the relations of mortgage home loans. The main drawbacks of the current regulation are the right of the credit institution to unilaterally set the interest rate of the loan and the fact that the protection of the customers is limited to the control of unfair consumer contract terms. Even though one of these problems (the right of credit institutions to unilaterally set the interest rate) is being solved, the author of the master thesis criticizes the fact that the ways how consumers can protect their infringed rights are still limited under the new regime. Accordingly, the author of the master thesis suggests that new legal remedies should be established as they are in the legal systems of another countries. |
