The Financial Supervisory Authority (FI) wants to make it mandatory for banks to inform customers when the interest rate discount on mortgages expires.
The fact that the discount can expire without the mortgage companies informing about it creates, according to FI, an advantage for the companies.
"The terms need to become clearer. It is unreasonable that consumers suddenly get a higher interest rate without having received clear information about it. Mortgage companies should give their customers a fair chance to negotiate their interest rate", says Moa Langemark, consumer protection economist at FI, in a press release.
FI proposes that the new rules should come into effect on July 1 this year.
