This short article provides an introduction to the current Norwegian credit control and this joined into the push towards which will be arranged to possess remark during the the next half 2022.

To mitigate the newest create-up out of personal debt inside the insecure home, the fresh Norwegian Ministry out-of Financing has lay standards for finance companies and you may most other economic institutions’ borrowing conditions. Residential mortgages was basically at the mercy of a constraint while the 2015, and a credit rating control is observed into the 2019.

Scope

The newest control pertains to finance companies or other economic institutions’ credit practices for mortgage loans and you can consumer funds. What’s more, it regulates international creditors performing in the Norway.

The mortgage criteria make an application for finance to individuals and you can just proprietorships. The new regulation’s financing-to-worthy of (LTV) caps getting mortgage loans in addition to get financing so you’re able to organizations. The needs getting signature loans submit an application for fund in order to people.

Area 5 of one’s control need lenders to assess the debt-maintenance element of the customers.

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