Abstract
Creditworthiness assessment is a valuable tool in avoiding irresponsible lending. Both the Consumer Credit Directive and the Mortgage Credit Directive provide for the requirement of a creditworthiness assessment before the conclusion of the credit agreement. However, neither the Consumer Credit Directive nor the Mortgage Credit Directive adequately regulate the content of the information to be collected by creditors in order to assess creditworthiness, with the result that quite different approaches are followed in different Member States. At the same time, while the Mortgage Credit Directive provides clear direction as to the granting or not of the loan depending on the outcome of the assessment, the corresponding provision of the Consumer Credit Directive leaves much room for interpretation.
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