On Wednesday, Finance Minister Magnus Brunner (ÖVP) signed an amendment to the Credit Institutions Real Estate Financing Ordinance (KIM-V), which will ease the granting of home loans from April 1st.
In a letter to the board of directors of the Financial Market Authority (FMA), Brunner once again emphasized that he would like further easing so that “all citizens who can afford it can realize their dream of owning their own home”.
“Regulation can only be the starting point of the debate”
A week ago, the minister said that the adapted ordinance would bring necessary improvements, but would not address the major problems – “therefore, this ordinance can only be the beginning, not the end of the debate,” said the Ministry of Finance. The regulation is still too inflexible to respond to the changed framework conditions such as the changed interest rate situation.
According to a report in the “Presse”, Brunner has now asked the FMA directors Helmut Ettl and Eduard Müller in a letter to “observe the market and the development of the award standards closely and to remain in intensive dialogue with the banks so that they can react quickly and more Facilitations may be granted”.
Brunner sent a letter to the FMA last October and called for the rules that had just been tightened to be relaxed.
“Fully corresponds to the line of the FMA”
The Financial Market Authority told the “Presse”: “The Minister’s request is fully in line with the FMA’s line.” which are then cast into ordinances by the FMA.
The committee includes representatives from Brunner’s Ministry of Finance, one of whom also chairs the committee, as well as representatives from the National Bank (OeNB), the Fiscal Council and the FMA.
