Norway Cuts Home Loan Equity Need to Help First-Time Buyers
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Norway’s finance ministry is lowering the amount of savings needed before buying a dwelling to make it easier for first-time home buyers to enter the market.
The equity requirement will be reduced to 10% from 15%, the government said in a statement on Wednesday. The regulations covering the flexibility banks have in assessing customer’s serviceability and the rules on installment payments for mortgages and consumer loans will continue, it said.