FFFS 2016:29

Summary

With the entry into force of the Mortgage Business Act (2016:1024), authorisation is required to issue and broker mortgages to consumers. Firms that currently conduct business subject to the act must apply for authorisation to be allowed to continue conducting business. Credit institutions do not need to have authorisation according to the new act, but they are still subject to certain parts of the act and the new regulations.

Finansinspektionen's regulations and general guidelines regarding mortgage business supplements the act and provides regulations regarding, for example, the application for authorisation and requirements on the business and the knowledge and competence of staff members and managers working with mortgages. One of the primary purposes of the regulations is to raise the level of consumer protection on the mortgage market.

The regulations assist in the implementation of Directive 2014/17/EU of the European Parliament and of the Council of 4 February 2014 on credit agreements for consumers relating to residential immovable property and amending Directives 2008/48/EC and 2013/36/EU and Regulation (EU) No 1093/2010 into Swedish law.

FFFS 2016:29 is currently not available in English.

Amendments

References to applicable regulations regarding ownership, ownership management and management assessments are being revised due to FFFS 2023:12 replacing previous regulations in the area.

The amendments enter into force on 18 July 2023. Amendment 2023:17

FI is making minor amendments to regulations regarding mortgage lending business. The amendments primarily entail that mortgage intermediaries shall submit certain information to FI when making changes to their business within the EEA. Amendment 2019:13

Finansinspektionen is replacing references to the Money Laundering and Financing of Terrorism (Prevention) Act (2009:62) with references to the new Anti Money Laundering and Terrorist Financing Act (2017:630) and the new regulations. The regulations must be adapted to the new Anti Money Laundering and Terrorist Financing Act that enters into force on 1 August 2017.  Amendment 2017:16