3 ms·
(a) in the 1990's, many banks did offer 50 year terms. (b) sweden has a lot of interest-only mortgages. If you look at the rate they are being repaid, it repre
by cowsandmilk 10y ago
(a) in the 1990's, many banks did offer 50 year terms.
(b) sweden has a lot of interest-only mortgages. If you look at the rate they are being repaid, it represents a repayment period of 148 years.[1]
[1] http://www.fi.se/upload/43_Utredningar/20_Rapporter/2013/bolan_2013eng_2.pdf http://www.fi.se/upload/43_Utredningar/20_Rapporter/2013/bol...
- semi-extrinsic 10y agoNorway's been tightening the mortgage belt for years now. You can only borrow less than 85% of the purchase price of the house, excluding fees. That was set in 2012 IIRC. And now (from January 2017) there will be a complete ban on interest-only mortgages (even just for limited time periods), and a hard cap at total loan amount (including also student/car loan etc.) for each family not exceeding 5x total gross income. Source: am planning to buy a new house, had a meeting with my bank man two weeks ago.