If you want to become a professional mortgage broker who helps consumers find a potential lender for the financing of a real estate purchase (real estate consumer loan agreements), or a consumer mortgage financing consultant who advises consumers on the various financing options when buying a property, you require a license under German law. In addition, every mortgage broker or consultant has to register in the brokerage register before starting their business. Don’t hesitate to call us for sound legal advice regarding the prerequisites for the licensing and registration procedures. Credit and mortgage brokers alike have to comply with a specific set of rules and regulations if the borrower is a consumer. The broker is not only obliged to provide the consumer with all the legal details about their brokering activity, but also about the loan itself. These information duties, like those of the lender, should not be underestimated.
Credit and mortgage brokers must therefore proactively disclose to the consumer all compulsory information, including a copy of theloan agreementthey intend to arrange between borrower and lender, and all pre-contractual information, such as ESIS, the European Standard Information Sheet, and the Standard European Consumer Credit Information form. In order to avoid liability risks, credit brokers should make sure that all forms and obligatory information they provide comply with the applicable legal requirements.
Here at Kürn Rechtsanwälte, we help you comply with all contractual and information requirements. We make sure your forms are accurate and contain all the required details. If we find any mistakes or missing pieces, we make the required adjustments and amendments for you to fully comply with your legal information duties.