(1) In the case of a consumer credit agreement relating to immovable property that is not denominated in the currency of the Member State of the European Union in which the borrower is resident at the conclusion of the contract (national currency of the borrower) (consumer credit agreement relating to immovable property and denominating in a foreign currency), the borrower may demand that the foreign-currency loan be converted to their national currency. The right to such conversion is given in those cases in which the value of the amount remaining to be paid or the value of the regular instalments increases as a result of the change of the exchange rate by more than 20 per cent, expressed in the national currency of the borrower, as compared to the value it/they would have had based on the exchange rate at the conclusion of the contract. In derogation from sentence 1, it may be agreed in the credit agreement that the national currency of the borrower will be exclusively or supplementally that currency in which, at the time of the relevant creditworthiness assessment, the borrower primarily receives income or holds assets from which the loan is to be repaid.
(2) The conversion to an alternative currency is to be carried out at the exchange rate corresponding to the market exchange rate valid on the day of the application for conversion. Sentence 1 applies only if nothing has been agreed otherwise in the credit agreement.