Housing sale The conditions for obtaining a mortgage loan will be tightened: The loan ceiling will be 85% of the price of the apartment

The housing market has recovered well from the sudden shock caused by the coronavirus crisis.

Financial Supervision the board lowers the mortgage loan ceiling to 85 percent. The loan ceiling applies to all non-first home buyers.

In June last year, the loan ceiling was raised to its statutory base level of 90%.

The aim was to address the cyclical risks posed by the corona crisis. With the pick-up in housing sales and mortgage lending, there is no longer a need for relief.

Now this limit is lowered. The reason is the housing market Rivakka’s recovery from the shock caused by the corona pandemic. The total debt-to-income liabilities of households that have taken out new mortgages have continued to grow. This underlines the importance of curbing over-indebtedness.

Decision will enter into force in early October.

Calculating the loan ceiling means, in practice, that loan applicants can get less loans than before.

If the loan ceiling is 90 per cent, the buyer of an apartment can receive, for example, a maximum of EUR 90,000 for an apartment that costs EUR 100,000. After calculating the loan ceiling, the loan amount can be a maximum of EUR 85,000 in an apartment of EUR 100,000

The news is updated.

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