Parliament calls for cheaper mortgages

30th January 2009, Comments 0 comments

Mortgage interest rates in the Netherlands haven't kept pace with lower rates set by the European Central Bank.

THE HAGUE—The Dutch Lower House of Parliament has called on the country's banks to lower mortgage interest rates. According to a study by the country's largest consumer organisation, the Consumentenbond, banks are charging the same interest as before the credit crisis even though the European Central Bank has lowered its rate a number of times.

The Christian Democrats, the largest party in the governing coalition, says the banks should not be making extra money at the consumers' expense. Labour, which is also a member of the ruling coalition, and the opposition conservative VVD party, say they are shocked by the banks' behaviour.

Radio Netherlands/Expatica

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