the reason for refusing to give mortgages to any one other than residents of the same member state even the relevant bank is and is represented of member states or branches is that in the event
The reason for a bank refusing to give mortgages to anyone other than residents of the same Member State (even when the relevant bank is a multinational and is represented in a number of Member States by subsidiaries or branches) is that, in the event of a default on the loan, the bank is obliged to proceed with a forced execution procedure in accordance with lex rei sitae (the law of the state where the property for which the mortgage has been arranged by the lending bank is located) and not with the law of the state where the creditor has its registered office.
The reason for a refusing to give mortgages to anyone other than residents of the same Member State (even the relevant bank is a and is represented a of Member States or branches) is that, in the event a default the loan, the bank is proceed forced execution procedure accordance with rei sitae (the law of the state where property for which the mortgage has been arranged by the bank located) and the law of state the creditor has its registered office.