Registration of creditors and credit intermediaries

Pursuant to Chapter XIII of Act no. 118/2016 on Mortgage Lending to Consumers, to be able to provide mortgage loans to consumers for commercial purposes, an entity must be registered with the Central Bank. The same applies to entities that wish to mediate such loans, cf. Chapter XIV of the Act. However, credit institutions, the Housing and Construction Authority, pension funds and insurance companies can provide mortgages without prior registration. In addition to this, credit institutions, and in some cases lawyers and auditors, may provide credit intermediation without prior registration.

Registration application

A registration application to operate as a creditor or credit intermediary shall be in writing and accompanied by the required information. The Central Bank has prepared an overview of the information which it requires to be attached to an application.

Supervision of creditors and credit intermediaries

The Central Bank has a special supervision of lenders and credit intermediaries, cf. Chapter XVI of the Act. The Consumer Agency generally supervises compliance with the provisions of the Act and rules deriving from it, cf. Chapter XV of the Act.