If you have a mortgage, it's especially important to contact your bank now. The Swedish Central Bank (Riksbanken) has communicated in their monthly report that the interest rate is expected to be lowered at a faster pace going forward.
The Financial Supervisory Authority (Finansinspektionen, FI) encourages consumers to contact their banks and start negotiating the mortgage interest rate.
Important to consider when contacting your bank.
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Dare to contact the bank. It's the first step. Today, it's easy to contact the bank. As a customer, you can contact a bank representative through a built-in messaging system at most banks.
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Find out about alternatives. It's time-consuming to contact other banks and ask what you can get for a mortgage interest rate from them. However, this is the most important point to focus on to know how your mortgage interest compares to the terms at other banks. You may even be able to switch to another bank directly, but at the very least, you'll get a good starting point for your negotiation with your bank.
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Difference between list interest rate and average interest rate. The Financial Supervisory Authority has pushed for banks to report list interest rates and average interest rates to increase transparency, so that consumers become more active in negotiating with banks. There is a big difference between list interest rate and average interest rate, so keep an eye on where you are on this scale.
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You are closer to the list interest rate than the average interest rate. If you have an organized economy and not too high a mortgage debt, there is room to ask for better interest terms.
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You are at or below the average interest rate. It may feel like you already have good terms, but it costs little effort to try to negotiate and ask for even better terms. Give it a try and aim for the stars.
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Bind or not bind the interest rate? There is normally no good answer to this question, as it becomes speculation about how interest rates will develop in the future. What a fixed interest rate provides is security for those who want to know their interest expenses and hedge themselves.
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The bank asks you for reciprocal services. When you start talking to your bank representative, it's normal for the representative to ask you, for example, to take out a pension insurance or sign up for another service from the bank that involves a cost. This is a countermove from the bank's side to try to earn money from you as a customer through other banking services. You can always start by saying "no" to more banking services, but if you are forced to, calculate carefully so that it doesn't become an unexpectedly high expense.
It all starts with a contact, so don't be afraid to contact your bank and ask for better mortgage terms. As the Financial Supervisory Authority encourage, start negotiating!
