I was given misleading information about my mortgage by a credit intermediary. Who is responsible?

What the Law Says

The EU Mortgage Credit Directive (MCD) sets binding rules for how credit intermediaries must behave when advising consumers on residential mortgages.

Under Directive 2014/17/EU, credit intermediaries must act honestly, fairly, and professionally in the best interests of the consumer. They must not mislead, omit material facts, or provide inaccurate information about mortgage terms, costs, or risks.

Article 23 requires intermediaries to be authorised and to comply with conduct-of-business rules — including ensuring that all information provided is 'accurate, clear and not misleading'. If they breach this, they are directly liable to the consumer.

Importantly, Article 25 says creditors (e.g., banks) remain responsible for ensuring intermediaries acting on their behalf comply with the Directive. This means a creditor can be held liable if it failed to supervise the intermediary properly — even if the intermediary was independent.

Statutory Text

Credit intermediaries shall act honestly, fairly and professionally in accordance with the best interests of their customers.

— Directive 2014/17/EU, Art. 23(1)

Statutory Text

Member States shall ensure that creditors remain responsible for the activities of credit intermediaries acting on their behalf.

— Directive 2014/17/EU, Art. 25(2)

Sources