A PYMNTS Company

Netherlands: Homeowner watchdog claims lack of competition distorts mortgage rates

By  |  February 11, 2013

As the banking sector comes under growing scrutiny around the world, reports from Netherlands show a new side-effect of a lack of banking competition: increased mortgage rates. Homeowners’ lobbyists VEH has released a statement which claims that mortgage interest rates are 1.3 percent higher than they should be due to a lack of competition and is calling for MPs to cap profits the banks can make on mortgages. According to reports, 125,000 people have signed VEH’s petition. Also among the group’s claims is that of the four major banks in the nation, three are state-supported and therefore have distorted mortgage rate calculations.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

     

    Full Content: Dutch News

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.