Recital 25

(25)Credit agreements covering the granting of credit secured by immovable property and credit agreements the purpose of which is to finance the acquisition or retention of property rights in land or in an existing or projected building, including premises used for trade, business or a profession, should be excluded from the scope of this Directive as such agreements are regulated by Directive 2014/17/EU of the European Parliament and of the Council ⁶ . However, credits the purpose of which is the renovation of a residential immovable property involving a total amount above EUR 100 000, and which are not secured either by a mortgage, or by another comparable security commonly used in a Member State on immovable property or by a right related to immovable property, should not be excluded from the scope of this Directive.