Finnish home owners feel better-placed to deal with a possible rise in interest rates than they did last year, a new poll suggests.
The survey, carried out by home loans provider Hypo, found that almost two-thirds of mortgage customers described themselves as prepared in some way for a rise in interest repayments. This represents a rise from last year’s result, when the figure was less than half.
The most common preparation for a potential rate rise was building up savings, the survey found. Fixed-rate loans, or interest-rate caps, have also grown in popularity since last year, the poll claims.
58 percent of respondents said they expect the cost of homes in population growth centres to increase over the coming year. Only one in ten respondents said they expect prices to drop.
The poll, of 1002 Finns aged 15-79, found that 340 respondents had taken out mortgages. Half of these were for under 100,000 euros. A quarter of the mortgages were between 100,000 and 150,000 euros. The survey found that one in seven respondents was repaying a loan of over 150,000 euros, the majority of whom were working families with children.