Thursday, July 30, 2015

Creative mortgage practice stopped – OBI Online

Living builder Constructer Ulsteinvik in western Norway will provide loans to homebuyers to help them with equity requirement of 15 per cent in connection with the purchase of housing, but it will not FSA have something of, according to DN.

The developer offering according to the newspaper interest-free home loans of up to 15 percent of the property value. The offer is reserved for customers who buy housing for them and pay a one-time fee of 25,000 crowns.

FSA has been tipped off about the practice of an “Anonymous banker” who asks the Authority if this requires a license. Authority according to DN confirmed that it is correct.

Constructer chief Thoresen says that if the FSA says that there is no law, they must abide by it.

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