Several brokers GP talked to believes that the removal of amortization requirement gives a small effect on the housing market. But more people still choose to amortize.
– Now everyone is talking about mortgage payments, in November, barely anyone there. So FSA has made people aware of it, says Fredrik Abrahamsson, Regional Manager at Erik Olsson real estate agency.
– While it has gotten better at amortize the past few years.
Arturo Arques, Private Economist at Swedbank, was surprised by today’s announcement but still sees positive that grace the issue is raised.
– Awareness among households increase, which I think leads to amortise more. You become aware of the consequence of not repay, he said.
The reason that the Financial Supervisory Authority (FI) stop work on the introduction of an amortization requirements is that it is not clear whether there is a legal support. The proposal amortization requirements was criticized by the Court of Appeal in Jönköping who do not believe that the authority has a legal support for his proposal.
On Financial Supervisory press conference, said Deputy General Director Martin Noréus that you still want to see the introduction of their proposals.
– Amortization Requirements needed to increase the resilience of households. To reduce the risks of over-indebtedness is an important issue for Sweden, he said.
Now, FI that the government and parliament gives a clearer mandate to the authority so they can introduce amortization requirement. But that will not happen until the autumn. Sven-Erik Kristensen, Regional Manager at Bjurfors estate agent, was surprised FI’s statement and think that the uncertainty thus created is not good.
– I think the housing market is served by a clear answer, an answer that not always positive is better than no response at all, he says.
– amortization requirements are not the most important parameter in the housing market but there is one bit. And one thing you can not control yourself.
It was in November by the Financial Supervisory went out with the news that they want to introduce an amortization requirements for new mortgages. Where new mortgage holders would be forced to amortize down to 50 percent of the home’s value.
– There is much anecdotal descriptions claiming that it had effects on the housing market. I do not think the impact has been so great, says Martin Noréus.
The effects that the proposal amortization requirements have been difficult to say. Brokers in Gothenburg talk about it more a case of a shortage of housing and that the purchases today is faster driving the cost, combined with the construction of the few homes and low interest rates.
– There are many buyers and few sellers, it gives a hot market. That it would now be more sellers I do not believe. The overheating is due to get items, says Martin Sundarp, brokers Erik Olsson.
To increase the rate of amortization looks Financial Supervisory Authority, brokers and banks as positive. Especially now, when interest rates are low and repayment prospects are generally large.
– Many see the amortization as an expense. So it’s up to us in the industry to explain that there is something positive, says Martin Sundarp.
Brokers GP talked to do not believe today’s ruling will have any significant impact on the market.
– Perhaps it may affect the market somewhat. But hard to say which way, says Sven-Erik Kristensen, Regional Manager at Bjurfors.
– A slight slowdown from the rush past, but I think it is short. We probably would have had a slowdown in August with the requirements, but now maybe it is spread out in two months instead, says Fredrik Abrahamsson, Regional Manager at brokerage agency Erik Olsson.
Arturo Arques, private economist at Swedbank believes that the Financial During the year, will return with a new repayment proposal. And that today’s ruling in the short term will lead to a slightly cooler market.
– The direct effect is that you do not need to run the legs of whether to buy or sell. That you do not have to “fit in” before the first of August. Buyers have more breathing space revise its residents, he said.
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