Finance
When Nordea was the first to raise the boliglånsrenten in the fall, shadowed the customers away. Nordea chief Snorre Storset says also, no more customers. the Check what interest rate you can get!
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Many norwegians enjoy record-low boliglånsrenter and more interest rate cuts in the year.
Several banks, including Nordea, has in a period of time offered just below two per cent floating interest rate for the best customers.
Then turned Nordea.
Norway’s second-largest bank, after the DNB, set up the interest rate on most mortgages by 0.2 percentage points at the end of september last year. Competitors hesitated.
Nordea’s financial statements were submitted on Thursday and shows that lending growth in the retail market stalled in the fourth quarter. Chief financial officer Arbab Dar in Nordea Norway has an explanation for it.
– We increased the boliglånsrentene first. It has probably influenced the lending growth towards the end of the year, ” he says.
Fierce competition
the Battle for boliglånskundene have been hard in a rising housing market. Banks have reported lower profits on lending the last two years. The banks have tried to take back some of what was lost by putting up interest rates. After Nordea, went there a month and a half before the DNB and the other major banks followed suit.
Now is the best floating interest at the rate of around two per cent, but most will pay more.
the Incision is located on well 2.5 per cent, according to information from the readers that have been reported to the DN rate of Interest. Statistics norway’s figures showed about the same average at the end of november last year. Many passive customers pay more than the average.
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medical director Jorge Jensen of the Norwegian Consumer council says customers should contact the bank if interest rates rise going forward.
medical director Jorge B. Jensen of the Norwegian Consumer council believes more should be negotiated with the bank. Photo: Thomas T. Kleiven
– It is especially important to follow and use forhandlingsmakten opposite bank when there is movement in interest rates. Several customers contacted the bank in 2015, when interest rates fell sharply. We hope 2017 can be a year where customers can become more active again, ” says Jensen.
He believes many customers can easily get a lower interest rate.
Banks discriminate against customers. Often hold it to contact their own bank, ” he says.
Say no more
Nordea Norway grew around four per cent by mortgage of the year, but in the fourth quarter, there was zero-growth.
| Nordea Bank Norway, the profit for the year 2016 (in MNOK) | 2016 | 2015 | Change |
| Revenue | 12804 | 12829 | -0,2% |
| Operating profit (ebit) | 8421 | 7465 | 12,8 % |
| Profit before tax | 6883 | 6695 | 2,8 % |
The Norwegian toppsjefen Snorre Storset admits that the former rentehevingen did that the bank is missed by customers.
There is little doubt that more customers were cautious to move over to Nordea for a period of time, ” says Storset.
– do you Regret that you put the interest rate up first?
– No. We set the interest rate based on the price of money and the competition in the market. We also have a responsibility to prevent debt growth becomes too great, he says.
Nordea has said no to more customers after it came new boliglånsforskrift in December of last year. The new rules say, among other things, that customers may not borrow more than five times the income, and the possibilities to deviate from the general rule is less. In Oslo, it is introduced especially strict rules related to equity for second homes.
– We say no if we believe that the customers stretching the elastic a bit too far. In some cases, we believe customers may be more realistic to what the debt burden is appropriate. Some are a little too ambitious, ” says Storset.
To grow less
Nordea will not say how much boliglånsveksten shall be in the year.
Managing director Gunnar Hovland in BN Bank says lending growth will be lower in the year. Photo: Down the Alley
Also, other banks have reduced utlånsiveren in the winter. The internet-based BN the Bank came with the parent earlier in the week. Last year was the lending growth in the retail market of nok 13 per cent, but it was taken down to around eight per cent in the fourth quarter.
– For the 2017 plan we are currently a utlånsvekst at seven-eight per cent, ” says managing director Gunnar Hovland in BN Bank.
the Bank will concentrate more on the financing of new housing projects. In addition, there are fewer that get a loan to own a property.
– There is necessarily any fewer granted loans when the regulation is tightened. In addition, the built it for small homes in pressområder as Oslo, ” says Hovland.
Waiting the more expensive mortgage
Nordea has made a survey among your own customers, which shows that 24 per cent say that they would have problems with handling the loan by up to five per cent increase in interest rates.
Storset refers to Norges Bank’s views that we may have reached the bottom for the key policy rate, and thus boliglånsrenten, for this time.
– the Norges Bank has signalled that it is less likely with interest rate cuts and there is reason to believe that interest rates not to fall from the current level. Then it is better to take into account that interest rates may rise in the longer term, ” says Storset.
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