Art. 495f · Transitional arrangements for property revaluation requirements

Version in force 1 January 2025, Inserted +697 −0§

Amended by Regulation (EU) 2024/1623 32024R1623 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2024/2987 32024R2987 on EUR-Lex (external, EUR-Lex) · Regulation (EU) 2024/2795 32024R2795 on EUR-Lex (external, EUR-Lex)

Applies from: not readable (an inserted provision states its own application date only in prose) why

Explanation, written by a model and checked against the cited text

A new Article 495f has been inserted, allowing institutions to continue valuing residential or commercial immovable property securing exposures granted before 1 January 2025 at or below market value, or at mortgage lending value where rigorous statutory or regulatory criteria apply, departing from Article 229(1), points (a) to (d).

This continued valuation approach applies until a property value review is required under Article 208(3), or until 31 December 2027, whichever occurs first.

Cited: Art. 495f, v2 (external, EUR-Lex)

v1 is the previous version, v2 this one.

Article 495f
Transitional arrangements for property revaluation requirements
By way of derogation from Article 229(1), points (a) to (d), for exposures secured by residential property or commercial immovable property granted before 1 January 2025, institutions may continue to value residential property or commercial immovable property at or less than the market value, or in those Member States that have provided for rigorous criteria for the assessment of the mortgage lending value in statutory or regulatory provisions, the mortgage lending value of that property, until a review of the property value is required in accordance with Article 208(3), or 31 December 2027, whichever is earlier.