housing. Interest-only will soon be a thing of the past – on Wednesday changed the law.
It is good, think first-time buyers are attracted to the display of a ’30s gem while retaining the charm “of Östervärn in Malmö.
– It’s healthy. Little has it’s worked out so that people are able to borrow to the hilt. It is not good for the housing market and not good for the private economy, says Istvan Kalmandi.
He likes what he sees in the little runner close Värnhemstorget. There is much to do for the handy, but that he does not see as a disadvantage. Asking price is 845 000 SEK and the speculators are consistently young first-time buyers, the very group that is believed to be affected most by the new amortization requirements on loans that exceed half the value of the property.
– Here to the renovation of a part, but I want to keep down the cost so I do not need to take too big a loan, says Oliver Petersson.
leaving parents
He lives at home with parents Genarp, but will now take the first step out of the housing market. Amortization requirement means that he must stay in a lower price range, but that he does not see as a major problem.
Linus Lindsjö and his partner first started looking at farms in the country, but they’ve got to think about.
– It’s extreme actions, you must have the 25-year-old today. Now we buy rather than something cheap, revamp it and make a profit, so that later we can afford to farm.
He thinks that it is good that the law will now to make all amortise, but he himself had done it anyway. Karin Söderberg, who now lives in public in Malmo reasons the same: If she’s going to take a mortgage loan, she wants to recoup.
– It’s never good to have a loan without repay. But everything depends on what you earn. For some, maybe it can not repay.
Will a split
the amendment will mean that some can not buy the apartment, she says.
– So there will be a split there.
Albin Malm Born and Matilda Hofvander is on his first apartment viewing. Both live with their parents in Svedala, but now they want to move in together and are looking for something central in Malmo situated around a million. First time buyers need to stay in the skin and to buy cheap, they argue. Principal paid had they done anyway, but they welcome the amendment.
– Swedes are very leveraged, so I think it is good, says Albin Malm Born.
FACTS
Amortization requirement
Property Purchase made after June 1 this year under the new amortization rules of the residence as collateral.
the rules mean that the loan will be amortized by two percent per year down to an LTV below 70 percent.
Between 50 and 70 percent LTV loan shall be repaid by one percent per year .
Supplementary loan repaid either in a decade or baked together with the original loan and repaid by the rule.
New build excluded from amortization requirements for first-time buyer for five years.
Agricultural and forest land is not subject to amortization requirement.
“Special reasons” that death or serious illness may warrant temporary exemptions from the repayment requirement.
the revaluation of the dwelling may be made every five years.
Source: Financial
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