Finland is set to impose a binding cap on mortgages on 1 July 2016, with the Ministry of Finance announcing on Tuesday that it is to present its proposal to the Parliament for consideration by late April. The ministry's proposal largely follows the model Helsingin Sanomat wrote about on 17 January.
HS in English
Finland to cap mortgages
Under the bill, financial institutions would be obliged to cap mortgages at 90 per cent of the value of the collateral pledged. First-time buyers, in turn, would qualify for mortgages equivalent to no more than 95 per cent of the property value.