The rules on amortisation go into effect as normal again after 31 August. The temporary exemption that Finansinspektionen (FI) introduced due to the exceptional uncertainty in the economy during the spring of 2020 is now ending. This means that households with high loan-to-value and debt-to-income ratios must amortise their mortgages.
Are the banks conducting thorough credit assessments when customers apply for consumer credit? Are smaller banks and payment service firms taking sufficient measures to prevent money laundering? What risks will the coronavirus pandemic pose in the future? These are three areas that Finansinspektionen (FI) will look more closely at in 2021.
Banks will have the possibility of offering all new and existing mortgagors an exemption from the amortisation requirements due to the spread of the coronavirus and its effects on the Swedish economy. The exemption will be in force until the end of June 2021. This enables Finansinspektionen to provide all mortgagors with greater manoeuvrability in these uncertain times.