The Danish Mortgage Model

Finance Denmark and COFACE Families Europe join forces to discuss financial inclusion of European families

One of COFACE Families Europe’s key issues is to promote responsible, fair and affordable access to financial services for families including better financial guidance.

On 9-10 November, Finance Denmark and COFACE Families Europe co-hosted a seminar on financial inclusion and how to improve access to affordable and stable financing for European families, specifically focusing on access to mortgages. Aside from being an opportunity to exchange between various European stakeholders on the topic of financial inclusion, the seminar put a special focus on the Danish mortgage model, as one example of a financing model that has provided Danish home owners with inexpensive and stable financing for more than two centuries. The main theme of the seminar was to explore whether experiences from the Danish model can be a source of inspiration for the larger European family-political-agenda to secure better and cheaper loans to European families.

Ane Arnth Jensen, deputy CEO in Finance Denmark, said: In the aftermath of the financial crisis, access to financing has become increasingly restricted on several fronts, and that makes a lot of sense from a financial stability point of view. But it is important that European families still feel that they have access to financial services for housing and other life needs. And here, it is my belief that the Danish mortgage model can be an example to follow.

Annemie Drieskens, COFACE Families Europe President, said: Millions of Europeans don’t have access to basic financial services, including mortgage credit, which is one of the ways to access housing; a precondition for families to thrive. Meeting here in Copenhagen to discuss this matter and inspire each other is one of many paths which will hopefully lead to more European families eventually having access to better financial service products, and specifically, better mortgage loans.

Among others, several European family and consumer organisations were present at the seminar, alongside the Irish Competition and Consumer Protection Council (CCPC), which have endorsed the Danish mortgage model in their work to develop a better mortgage market in Ireland. CCPC concluded that the Danish model contains a number of features, which are attractive to consumers, including cheap and transparent lending costs. Read the report from the CCPC here.

The seminar also included participation of Finanstilsynet (the Danish Financial Supervisory Authority), and organisations like Forbrugerrådet TÆNK (Danish consumer council) and Ældresagen (Danish plaform of older people) among others.

Seminar Agenda
A report will follow shortly

For more information on COFACE Families Europe’s work on financial inclusion visit this page and follow the debates on Twitter with #FinServices4all

Further information, please contact
Martin Schmalzried, Senior Policy and Advocacy Officer +322 500 56 94
Ana Pérez, Communication Manager +322 500 56 93

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