My mortgage lender didn't give me a standardised information sheet before signing. Is this required?

What the Law Says

The EU Mortgage Credit Directive (MCD) sets binding rules for lenders across all EU Member States. It mandates clear, standardised pre-contractual information to help consumers compare offers and make informed decisions.

Under Directive 2014/17/EU, lenders must provide the European Standardised Information Sheet (ESIS) to consumers before they are bound by a credit agreement. The ESIS includes key terms like the annual percentage rate of charge (APRC), total amount of credit, repayment schedule, and risks related to foreign currency or variable rates.

The directive requires that the ESIS be provided 'in good time' before signing — specifically, no later than seven days before the agreement is concluded. If provided in person or on paper, it must be given at least seven days before signing. If provided by distance means (e.g., email), the consumer must have at least seven days to review it before being bound.

If the lender fails to provide the ESIS, or provides it late or incompletely, the consumer gains an extended right of withdrawal: up to 10 days after signing (instead of the usual 14 days under general consumer rights), and in some cases, courts have held that the withdrawal period starts only once the ESIS is properly delivered.

Statutory Text

The creditor shall provide the consumer with the European Standardised Information Sheet (ESIS) set out in Annex II no later than seven days before the conclusion of the credit agreement.

— Directive 2014/17/EU, Art. 13(1)

Sources