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This book advocates a new way of thinking about mortgage contracts. This claim is based on the assumption that we currently live in a political economy in which consumer debt fulfils a social function. In the field of housing this is evidenced by the expansion of mortgage credit through which consumers are to purchase residential property as a means of social inclusion and personal welfare. It is suggested that contract law needs to adjust to this new social function in order to avoid welfare losses in terms of default, over-indebtedness, and possibly eviction. To this end, this book analyses theoretical contract law frameworks and makes concrete proposals for contract law in the EU legal order.>
List of contents
I. Context
II. Themes and Aims
III. Questions and Structure
1. Theoretical Framework
I. Introduction
II. Duality of Aims in EU Consumer Law
III. Normative Preconceptions
IV. Conclusions
2. Vulnerability to Welfare Losses through Privatisation
I. Introduction
II. Privatisation: Credit versus Welfare
III. Welfare Losses
IV. Vulnerability to Welfare Losses
V. Conclusions
3. Vulnerability in EU Mortgage Contract Law
I. Introduction
II. Vulnerability in EU Mortgage Contract Law
III. Conclusions
4. A Flexible Mortgage Contract Law
I. Introduction
II. Relational Vulnerability
III. Event Vulnerability
IV. Lack of Resilience
V. Conclusions
5. Theoretical Framework Revisited
I. Welfarist EU Mortgage Contract Law?
II. Justice in EU Mortgage Credit Law
About the author
Irina Domurath is Assistant Professor at the University of Padova, Italy.
Summary
This book advocates a new way of thinking about mortgage contracts. This claim is based on the assumption that we currently live in a political economy in which consumer debt fulfils a social function. In the field of housing this is evidenced by the expansion of mortgage credit through which consumers are to purchase residential property as a means of social inclusion and personal welfare. It is suggested that contract law needs to adjust to this new social function in order to avoid welfare losses in terms of default, over-indebtedness, and possibly eviction. To this end, this book analyses theoretical contract law frameworks and makes concrete proposals for contract law in the EU legal order.
Foreword
Exploring the tension between the need to include social values in private law and the market orientation embedded in EU law, this monograph contributes to a deeper understanding of EU consumer mortgage law and beyond.
