Dutch debt registry wants ability to share all mortgage data with all finance providers

The national debt registration office, BKR, wants the power to include personal mortgages in its registry in the near future, in order to obtain and provide a more complete picture of household debt. The reasoning is that lenders can better fulfill their duty of care if the credit bureau also keeps track of consumer mortgage debt, a spokesperson for the organization confirmed, after the story was first reported in De Telegraaf. The BKR said these concerns are unfounded, as “sharing data with everyone” will not happen quickly, because lenders are only notified after someone falls into payment arrears for several months. But registering every mortgage with BKR, so that they are also notified of every payment arrears, does not help the consumer.