Frontpage News 2016 The Danish Bankers...

The Danish Bankers Association welcomes new lending guidelines

1 February 2016

Press release

Today, the Danish FSA (Danish Financial Supervisory Authority) published new guidelines for the credit rating of home buyers in areas of growth, where prices are significantly higher and where larger price increases are taking place i.e. Aarhus and the Copenhagen region.

“It is important that we have a healthy and robust property market in Denmark. Overall, the guidelines seem sound and will complement credit institutions’ already thorough credit ratings,” Legal Executive Director at the Danish Bankers Association, Kenneth Joensen, says.

The Danish Bankers Association called for more flexibility in the guidelines and it is encouraging that this has been incorporated for the benefit of future home owners, so deviations from the rules can happen in relevant situations.
 
“We have had a close dialogue with the Danish FSA, where we have highlighted the need for flexibility, so that the guidelines do not risk inappropriately rejecting customers. Therefore, we are delighted that the Danish FSA has listened to use and that it will be possible to provide loans to creditworthy customers,” Kenneth Joensen says.
 
The guidelines from the Danish FSA are, to a certain extent, already in practice in credit facilities. Therefore, the Danish Bankers Association believes that home buyers will not experience a sudden, dramatic, overnight change in credit facilities, as a result of these guidelines.
 
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