It’s good that the financing can be renewed. According to the press release, however, the housing fund’s financing package was taken from Oma Säästöpankki (the care fund’s financing would have been too big a bite for OmaSP to chew). Previously, OmaSP has had a reputation for usually being the most expensive option in terms of margin. The situation may have changed, and I don’t know if both private and corporate customers have an expensive list price. It’s a matter of negotiation, of course. However, for private customers, the margin from Nordea could have been 0.8% and through Oma Säästöpankki 1.5%. Oma Säästöpankki has also financed such projects in smaller localities where other banks do not grant loans. Their customers also include price-insensitive consumer customers. The point of my comment: I don’t believe the loan margin was very favorable. The margin, interest rate hedges, and their prices were not disclosed.
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