More borrow at högräntebolag – debt mountain grows – Swedish Dagbladet

Buy first – pay later. Högräntebolagens lending increases while household debt is growing pulp. Photo: Tomas Oneborg, Izabelle Nordfjell / TT

“Instead of need to save before a purchase is carried out gives TF Bank’s solutions allows customers to buy goods first and pay later, “writes Doldis company TF Bank in its prospectus for its IPO, as SvD Business took part.

A click on shows that it is not at all completely interest-free

For investors, the company boasts that the effective rate their Swedish customers pay on average is 28 percent. The annual cost of a loan of SEK 100 000 is therefore 28 000 crowns.

At the same time aiming the companies in on people with weak economy, with fewer opportunities to cope with a högräntelån.

and there are more that provides expensive personal loans and unsecured. Loan Company, Svea Ekonomi encourages customers to borrow more and advertises on its website, you can now “borrow up to 50 000 to vacation free of interest.”

A click on shows that it is not at all completely free of interest. After a few months starting rate ticking, and the current loan rate is between 6.90 and 27 percent. And several of the companies signs also how easy it is to get loans from them – something that worries the FSA.

– From a consumer perspective, FI has estimated that the greatest risks of lack of credit checks on the market for consumer credit where the focus so far has been on the loans provided by the instant loan companies, says Karin Lundberg, deputy head of the Financial Supervisory Authority of activity Banking and says that the inspection is now going to do a major review of companies.

– the year refers FI mapping market consumer loans.

the expensive loans is good business for the small loan companies and banks. SvD Enterprise’s review of the recently published annual reports show that the results are steadily increasing in all the small loan companies, as well as their lending to the public.

BlueStep increased its lending to the public by 17 percent, from 8.3 billion years 2014 to 9.7 billion last year.

– the increase is due to increased demand, says Peter Gertman, CFO of BlueStep.

And the company’s operating earnings before tax increased to SEK 151 million, an increase of 9 million from the previous year.

– We are pleased with developments over 2015. We have enjoyed good growth in all business areas, while credit quality is strong, says Peter Gertman.

the margin Bank increased its profits by a staggering 240 percent to 114 million. Lending to the public increased as well, from about 12 to SEK 13 billion, ie 10 percent.

Exactly what happened in the company for it to be such a skyrocketing increase in the result is hard to see, but Anders Karlström, Director of Communications at the margin, mean that only the low repo rate contributed.

– the increase in earnings is primarily due to that we have adapted to a low interest rate environment with negative interest rates and thus reduced our liquidity reserve, he says, and believes that it has contributed to higher net interest income.

Svea Ekonomi’s earnings grew by nearly 20 percent. From 231-275 million. Loans to customers grew by 18 percent from 5.1 billion to 6 billion.

It is important that consumers are not attracted by credit marketing and make a rapid decision to purchase.

Karin Lundberg FI think it is good that there are many different players in the financial market “that creates competition and provide a wider product range.”

– As with all lending to consumers, there is always a risk that consumers take on more debt than they can afford, which in the worst cases can lead to the fall in indebtedness, she says.

Therefore, she says, are the legal requirements to do a credit check important.

– All companies that provide credit to consumers must assess the consumer’s repayment ability before a loan can be given to ensure they only make loans to consumers that are expected to repay the loan.

But obviously is the angle a bit too often. Not least seen it in more loans overall in Sweden finally goes to the bailiff, where guilt mass swells.

The Swedes’ total outstanding debt of Crown Fogden increased to SEK 72.4 billion in 2015. In 2013 it stood at 70 3 billion, and in 2014 70.7 billion. This means that the mass of debt almost increased by 2 billion a year.

The number of applications for payment also rose. They amounted to 1.17 million last year, as opposed to 1.14 in 2014.

The Consumer Agency is not satisfied with the progress, even if it receives relatively few complaints . Gabriella Fenger-Krog, Head of the Consumer Agency, want to give a warning to consumers not to be lured into buying that one can not.

– It is important that consumers are not attracted by credit marketing and make a rapid buying decisions, but always ask for pre-sale information to get an idea of ​​what credit is actually going to cost, says Gabriella Fenger-Krog.