Debt agency plans to register mortgages, despite privacy fears

Dual earners only need apply. Photo:

Debt registration agency BKR is planning to register mortgages from next year and to do more to alert companies about debts their clients may have, the Telegraaf reported on Thursday.

Some 11 million people are registered with the BKR, which currently lists arrears of at least three months with banks and mortgage providers, defacto loans for mobile phones and debts with other official credit agencies.

Home owners organisation Vereniging Eigen Huis has describe the plan as ‘big brother’ and banks too have raised objections to the plan.

‘The BKR is really going too far,’ Eigen Huis spokesman Hans André de la Porte told the paper. ‘You don’t want confidential information about your mortgage to end up with a mail order company or telephone shop.’

BKR says it wants to register mortgages to protect financially vulnerable first time buyers ‘from themselves’, the Telegraaf said. The aim would be to prevent them from building up a large number of loans.

Banks, however, say the information is not only privacy-sensitive but is already included in land registry reports.

The foundation also plans to actively inform mortgage providers about any arrears their client may have with, for example, their mobile phone or leased car provider, the paper said.

The BKR did not respond to Dutch News’ request for comment.

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