FSA’s new rules forcing banks to report the average interest rate mortgage customers pay. The rules apply from July 1, but several of the banks have been slow on the grounds that it takes time to produce the statistics. Later in the day, Friday, the average interest rates are published on the websites of banks, according to FI.
Handelsbanken and Nordea was the first major bank to lay out the data on Monday. SEB reported its first on Thursday, while Swedbank waited until the last day.
Ulf Rydstedt , Deputy Head of Consumer Banking and Finance Bureau, sees the rules as a welcome step to strengthen consumer power .
– The average interest rate gives customers a better basis for decisions and another tool to use in the negotiation with the lender, he says.
His advice is to check the average interest rate before the meeting with the bank. If your interest rate is lower than the average bank must come up with an explanation. It could be that you are not full-range customer of the bank.
– One should ask what you can do to get better terms. If you can not get it, you should see if other banks offer you a lower interest rate.
Average interest rates so far have been published shows considerable differences in mortgage loans with three-month period. SEB had the lowest average rate in May by 1.33 percent, while Ikano Bank had the highest with 1.77 percent. The difference is thus the full 0.44 percentage points.
– SEB might have an activity to bring in more customers right now, says Ulf Rydstedt of the low average rate.
Table: Here banks’ average three-month interest rates (May)
| bank | Average interest rate (%) |
| SEB | 1.33 |
| Danske Bank | 1.47 |
| , Handelsbanken | 1.56 |
| Skandia | 1.58 |
| Nordea | 1.59 |
| Swedbank | 1.60 |
| SBAB | 1.66 |
| ICA Banken | 1.70 |
| Ikano Bank | 1.77 |
Note: This article was updated on Friday morning with Swedbank’s average interest rate.
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