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Comment. Although the Financial Supervisory Authority still believes that they have support for introducing an amortization requirements, the slopes. Why?
To an even greater turmoil in the housing market had threatened the inspection proceeded
Although the Financial Supervisory Authority still believes that they have support for introducing an amortization requirements, the slopes. Why?
For an even greater turmoil in the housing market had threatened the inspection proceeded
There are probably quite a few people who in recent weeks has rushed to finish a home business before the summer and Financial Supervisory Authority (FI) amortization requirements. And some have then felt compelled to buy more expensive than they really had in mind. Or they have chosen housing more quickly than they would if they felt that they had been expected to fall.
Martin Noréus, the Acting Director General of the FI, agrees that these buyers may feel cheated when Fi now withdraws the claim. But Noréus says that he and the management had no choice.
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Noréus answers can seem strange because it involves an interpretation of a law, specifically Chapter 6 Section 4 of the Law on Banking and Financing. FI believed, and still believe, that section provides support for the repayment requirement. And Appeal in Jönköping not saying that FI does not support amortization requirements of that section, only that it is doubtful whether there is support. It’s the doubts FI refers to when it decides to withdraw the claim.
But certainly could Inspectorate have gone ahead and introduced the requirement of August 1, as planned. FI think of course still that there is support in the law. The question then is why it chooses to back.
Suppose FI gone ahead and a future borrowers who received the requirement refuses to repay. The borrower is reconciled and end up in court where he or she refers to the Administrative Court of responses. The court must be in the position to decide who is right: FI or Appeal. A future judgment would likely be appealed and thus begins a process that can last for years.
There will be a nightmare bostadsmarknaden- and hundreds of thousands of borrowers. The uncertainty about the rules will fold like a wet blanket over the market. Sellers and brokers will have difficulty putting a price. And buyers do not know how much money they are going out with each month for their accommodation. It becomes chaotic and frustrating for anyone who is facing his life’s biggest business.
That is why FI chooses to back until they have crystal-clear rules that they may make a repayment requirements. FI also refers in its press release that there should be no hesitation when it comes to rules that may affect many households for decades.
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