"Several other instant credit companies have complied with our instructions not to issue text message credit at night. After all, one does not conclude credit card contracts in the middle of the night either," Anja Peltonen of the watchdog told the Finnish News Agency (STT).
What don't they force all those predatory lenders from providing instant credit. I'm not sure what good things they bring to the society as a whole as they target the weakest : the youngest...
"The agency underlined that borrowers must be offered a chance to study terms and conditions before accepting credit and that referring customers to an internet site was not enough."
This was already highlighted in a previous article "eSubprime: Living beyond your mean" , this article was mainly showing the watchdog inactivity of handling such reckless lending.
They should go further and dismantle as well the financial engineering system put in place by construction company and real estate agent to bring to consumers and future households affordability traps :
Now even some web site (oikotie - YIT) are warning the consumer that the price shown is not the reality but one should be careful in calculating what they will have to pay i.e Myyntihinta vs Velaton myyntihinta and any short term fixed rate that reset to higher rate....
|Velaton myyntihinta||331 200,00€|
And here is the warning:
"Huomaathan, että uudiskohteiden tiedoissa olevat tiedot asumismenoista (rahoitus- ja hoitovastike, vesimaksut, jne.) ovat arvioita, jotka perustuvat tämän hetkiseen parhaaseen tietoon. Ilmoittaja pidättää oikeuden muuttaa tietoja."