The Charter of Fundamental Rights of the European Union and the constitutionalisation of private law: a new way to protect the right to housing?

Abstract

Housing is currently the epicentre of economic growth in the European Union and the main asset of its citizens. This reality is the result of a gradual process of commodification of housing, whose acquisition has been made possible thanks to consumer credit, which has become one of the driving forces of the European economy. The expansion of home ownership, couple with the lack of regulation of responsible mortgage loans, has nonetheless contrib- uted to the international financial crisis, which has significantly affected some European countries, such as Spain or Ireland. The European Union lacks an express competence in the key areas —housing and property rights— to face the challenges arising from the crisis, but the Court of Justice of the European Union has initiated a process of constitutionalisation of European private law by linking consumer law with the Charter of Fundamental Rights of the European Union that can open a new way of protecting the right to housing. This paper explores how the Charter can help interpret consumer law rules, especially those related to mortgage loans, in a manner consistent with human and fundamental rights.