(1) The lender is obliged to inform the borrower in accordance with the provisions of Article 247 of the Introductory Act to the Civil Code (Einführungsgesetz zum Bürgerlichen Gesetzbuche).
(2) The borrower may require from the lender a draft of the consumer credit agreement. This does not apply for as long as the lender is not willing to conclude the contract. Where, in the case of a consumer credit agreement relating to immovable property, the lender submits to the borrower an offer or a binding suggestion for certain provisions of the contract, the lender must offer to the borrower to hand over or to transmit to the borrower a draft of the agreement; where no right of withdrawal pursuant to section 495 exists, the lender is under obligation to hand over or to transmit to the borrower a draft of the agreement.
(3) The lender is obliged to provide suitable explanations to the borrower prior to conclusion of a consumer credit agreement so that the borrower is enabled to judge whether the contract does justice to the purpose pursued by hem and is in keeping with their assets. To this end, where appropriate the pre-contractual information under subsection (1), the main features of the contracts offered by the lender, as well as the effects such contracts typically have on the borrower, including the consequences of payment default, are to be explained. Where financial products or financial services are offered as a package with a consumer credit agreement relating to immovable property, it must be explained to the borrower whether or not it is possible to terminate them separately and what the consequences of a termination will be.
(4) In the case of a consumer credit agreement relating to immovable property as defined in section 491 (2) sentence 2 no. 5, the lender is under obligation to inform the borrower on a durable medium, in due time prior to the latter making their declaration as to the conclusion of a contract, of the features pursuant to Chapters 3, 4 and 13 of the template set out in Article 247 section 1 (2) sentence 2 of the Introductory Act to the Civil Code (Einführungsgesetz zum Bürgerlichen Gesetzbuche). Article 247 section 1 (2) sentence 6 of the Introductory Act to the Civil Code (Einführungsgesetz zum Bürgerlichen Gesetzbuche) applies.