(1) In the case of general-purpose consumer credit agreements, information provided by the borrower may serve as the basis for a creditworthiness assessment and, where necessary, information from agencies that, for the purpose of transmission, commercially collect, store, alter or use personal data which may be used to evaluate consumers’ credit worthiness.
(2) In the case of consumer credit agreements relating to immovable property, the lender is to assess in detail the creditworthiness of the borrower on the basis of information on the borrower‘s income and expenses and other financial and economic circumstances which is necessary, sufficient, and proportionate. In so doing, the lender is to have due regard to factors that are relevant for estimating whether or not the borrower likely will be able to comply with their obligations under the credit agreement. The assessment of creditworthiness may not rely predominantly on the value of the residential immovable property exceeding the amount of the loan, or on the assumption that the residential immovable property will increase in value, unless the purpose of the credit agreement is to construct or renovate the residential immovable property.
(3) The lender obtains the information required under subsection (2) from relevant internal or external sources, including the borrower. The lender also takes account of information provided to a credit intermediary. The lender is under obligation appropriately to confirm the information, to the extent necessary also by inspecting independently verifiable documentation.
(4) In the case of consumer credit agreements relating to immovable property, the lender is under obligation to determine and document the processes and information on which the creditworthiness assessment relies, and to keep a record of such documentation.
(5) The provisions regarding the protection of personal data remain unaffected.