CONSUMER RIGHTS IN THE RESIDENTIAL REAL ESTATE LOAN CONTRACT

Abstract

Housing loans play an essential role in solving housing problems in Iraq. These loans are
among the most significant and profitable services provided by banks to their customers.
However, customers become the weaker party in any concluded contract with banks and thus
their protection becomes so essential. This study addresses the problem of the imbalance
between the parties in the residential real estate loan contract. For this purpose, this study
adopts the analytical method by analyzing the provisions of Iraqi legislations relating to
consumer protection. The study found that the existing Iraqi's legislations don't provide
adequate protection for the consumer in the residential real estate loan contract. And there is a
necessity to issue a specific law to protect the consumer in this contract.