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03

Mortgage Rejections Soar in Sweden as Banks Fear Debt Overload

By Tony Seruga

SBAB is turning away up to 25% of initial applications: CEO
Banks are tightening standards as mortgage risks persist

Some mortgage banks in Sweden are turning away up to a quarter of customers trying to get home loans amid signs that private debt burdens are becoming unsustainable.

The country’s state-owned mortgage lender, SBAB, is now rejecting as many as 25 percent of initial loan applications, said Klas Danielsson, its chief executive officer. That’s roughly twice as many as it turned away a year ago. SEB AB is also turning its back on borrowers struggling to meet its loan criteria even though the policy means missing out on market share, according to CEO Annika Falkengren…

Mortgage Rejections Soar in Sweden as Banks Fear Debt Overload

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