New regulation for housing loans from the Ministry! That requirement has been removed

Regulations regarding housing loans have been published in the Official Gazette and have entered into force.

With these regulations, changes were made to distance contracts for financial services, housing finance contracts, and consumer loan contracts.

THE REQUIREMENT TO VISIT A BRANCH AND PROVIDE A WET SIGNATURE HAS BEEN REMOVED

According to information obtained from the Ministry of Trade, the changes aim to align with the regulations that entered into force in October under the Law on the Protection of Consumers. Steps have been taken to accelerate digital transformation in the provision of financial services to consumers.

With these regulations, it has become possible to obtain housing loans electronically via remote communication tools without the requirement to visit a branch or provide a wet signature. In this context, the aim is to simplify the stages of accessing credit, save on documentation used in contract execution, and expand the practice of providing distance financial services.

With the changes that have entered into force, it is now possible to perform certain transactions related to both personal needs and housing loans, which previously required written applications, via remote communication tools.

Consumers are now better informed about ways to seek their rights

Taking into account that applying to a mediator has become a mandatory condition before filing a lawsuit in disputes heard in consumer courts, it has been made mandatory to include information in the contract content stating that consumers can submit their applications regarding disputes to the consumer arbitration committee or, provided that they apply to a mediator before filing a lawsuit, to the consumer court. This applies to both personal needs and housing loans, as well as contracts for insurance, private pension, payment, and other banking services purchased by consumers electronically. In this way, it is aimed to better inform consumers and prevent the loss of rights.

News Source: AA