The proposal to impose a cap on mortgages is principally a lemon. Jan Vapaavuori (NCP), the Minister of Economic Affairs, conceded in his blog on Wednesday that the introduction of a 90 per cent mortgage cap is not expected to change anything. In an interview with Helsingin Sanomat later on Wednesday, Vapaavuori commented on the blog entry, in which he suggested that the mortgage cap, as envisioned by the Ministry of Finance, would have no impact on mortgage lending.
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Proposed mortgage cap is a lemon
“The headline in today's paper was ‘Mortgage cap changes nothing’. That's a fact, and that was the objective in this moment.