Spectator on facebook

Spectator on facebook

Cabinet approves proposal to boost transparency of mortgage interest rates

An amendment to the Act on Banks was approved by the government at its session on June 8 that is aimed at ushering in a more transparent manner of providing information about mortgage interest rates, the TASR newswire reported. The proposed rules, drawn up by the Finance Ministry, are designed to apply to new interest rates on mortgages as well as rates applicable after a term of fixed interest rates expires.

An amendment to the Act on Banks was approved by the government at its session on June 8 that is aimed at ushering in a more transparent manner of providing information about mortgage interest rates, the TASR newswire reported.

The proposed rules, drawn up by the Finance Ministry, are designed to apply to new interest rates on mortgages as well as rates applicable after a term of fixed interest rates expires.

The measure should enable bank clients to get a better idea of the components of a specified interest rate, allowing them to compare mortgage offers more easily.

The Finance Ministry also said the amendment is designed to bring about equal conditions for mortgages and other kinds of housing loans.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

How rock music helped bring down the totalitarian regime Video

A new film shows that Rock & Roll, forbidden in the Soviet Union, helped to end the Cold War.

Illustrative Stock Photo

Movies under an open sky feel differently than in an air-conditioned cinema Photo

The popularity of outdoor cinemas is increasing in Bratislava

Bažant Kinematograf on the Magio Pláž beach

Peter Sagan announces split with his wife Katarína

The Slovak cycling star who has a young son said “It will be much better this way”.

Peter Sagan marries Katarína, November 2015.

Top 3 news from Last Week in Slovakia Video

Slovakia to buy 14 American fighter jets.

This archive picture from 2014 shows an older model of the F-16 fighter jets.