Credit is faltering and consumption is sluggish...so how do deal with that? well use the bad behaviour that was the cause root of the current crisis - as if the crisis happen for nothing and give you the sense that institutions, banks do not learn a nickel out of that.
Let me be more clear...and point to what make Nordea, not an example to follow...
Make use of your home equity
"Would you like to utilise the assets tied to your home to realise your plans?
Does your home need improvement or would you like to buy a summer cottage? Is the block of flats you live in going to have pipe renovation or other repairs? Are you interested in investing? Would you like to give your children or grandchildren a nest egg to get them started in life?
Benefits of HomeFlex
* The interest you pay on your loan equals the interest the bank pays on the deposit on your account.
* You can deduct the loan interest in taxation. Read more
* You can use the loan in the way you want and the account is used as any ordinary bank account.
* The loan period is ten years. During this time you don't have to amortise your loan - you just pay the interest. After ten years we will agree with you on how to continue."
Read again the first and last sentence :
- Would you like to utilise the assets tied to your home to realise your plans
- The loan period is ten years. During this time ... you just pay the interest
I thought that this crisis was all about reforming a failing financial regulatory system...looks like nothing happen. This is the reciped that put the American financial system on it knee that ultimately had to be rescued with public fund.
Today Nordea has been hit by the "I-Dont-Get-It*I'M-Not-Listening" syndrome...and yet, regulators are still fighting the last battle , most probably analysing what went wrong and allowing in real time such development...
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