The Netherlands Authority for the Financial Markets (AFM) is willing to participate in consultations on the housing market. This was communicated by AFM chairman Ronald Gerritse pursuant to the media coverage concerning the initiative of Piet Moerland, Rabobank's chairman.
"The AFM in particular looks after the interests of people who wish to take out a mortgage", according to Gerritse. "We recognise that there are problems on the housing market and are happy to contribute to a discussion about possible improvements. What appeals to us in Moerland's plan is the possibility to make mortgages simpler and more understandable. We will also discuss how we can prevent excessive loans by other means. Naturally, this should also involve the government and consumer organisations in addition to the banks and other financial undertakings."
As of 1 August, the rules for providing mortgage loans will be tightened under the new Code of Conduct for Mortgage Finance of the Dutch Banking Association and the Dutch Association of Insurers. The AFM considers this tightening important to prevent the provision of excessive loans. Gerritse: "A deal is a deal. That is and will remain our starting point."
The AFM promotes fairness and transparency within financial markets. We are the independent supervisory authority for the savings, lending, investment and insurance markets. The AFM promotes the conscientious provision of financial services to consumers and supervises the honest and efficient operation of the capital markets. Our aim is to improve consumers’ and the business sector’s confidence in the financial markets, both in the Netherlands and abroad. In performing this task the AFM contributes to the prosperity and economic reputation of the Netherlands.
The AFM is committed to promoting fair and transparent financial markets.
As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.