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PROPERTY

State could guarantee first-time mortgages

People who want to buy their first home but have trouble getting a bank loan could soon get a credit guarantee from the state, under plans unveiled by the government.

Published: 7 June 2007 08:29 CEST
State could guarantee first-time mortgages

The new programme would help people who are unattractive to mortgage lenders, for example, young people without permanent jobs but with several casual jobs. The Finance Ministry estimates that 5,000 people a year will apply for the guarantees.

“Everything suggests that this is a win-win situation for everyone,” said Housing Minister Mats Odell to Swedish Radio. The programme would be self-financing, with the mortgages costing 0.2-0.4 percent more than normal loans.

The Finance Department proposal would mean the state guaranteeing around 100,000 kronor in interest payments on a 1 million kronor mortgage.

ESSENTIAL SWEDEN

Banks, bills and mortgages: Essential articles for life in Sweden

Wondering which banks give mortgages to foreigners, or what happens if you are struggling to pay a bill? Essential Sweden this week answers those questions and more.

Published: 5 May 2024 14:02 CEST
Banks, bills and mortgages: Essential articles for life in Sweden

Interest rates may soon drop, but there’s still hope if you’re finding it hard to pay your mortgage each month.

Which bank should you use if you’re a recent arrival to Sweden? We asked our readers for their tips: here’s what they said,

We hope you never find yourself in the situation that you’re unable to pay a bill in Sweden, but it’s good to know what happens if you do, just in case.

Owning a second home is relatively commonplace in Sweden, and they often sell for under a million kronor in more remote areas. But what should you take into account when considering a purchase?

People who arrived in Sweden as adults often need to top up their pension savings, and one way to do this is via investments. What are the different types of investing and how do they work?

Finally, if you’re planning on buying a home any time soon, it’s worth knowing which banks require you to have permanent residency in Sweden before you apply for a mortgage. 

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