Housing Finance Policy

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A. Legal and Regulatory Framework

A.1 Legal and Regulatory Framework
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Basis of the legal system: Civil, Common, Islamic, Other? (Describe)CivilCivilCivil
 
A.1.1
Are there specific laws that deal with mortgages? YesYesYes
Land Registration Act
A.1.2
Registration/Transfer of titles:A.1.3
Does the law clearly define different types of property rights?YesYesYes
Land Registration Act
A.1.3.1
 Are property rights easily transferable?YesYesYes
Doing Business Norway
A.1.3.2
Typical number of days needed for the transfer of title333
WDI
A.1.3.4
Can liens be effectively enforced?YesYesYes
Lex Mundi
A.1.4
Number of months until lender acquires the property in case of foreclosure on a single-family residential property?6-96-96-9
Lex Mundi
A.1.4.1
Cost of foreclosure process as a percentage of the value of a typical loan? Not availableNot availableNot available
Lex Mundi
A.1.4.2
Are there legal constraints on mortgage features?YesYesYes
Lex Mundi
A.1.6
Interest rate capsNoNoNo
Lex Mundi
A.1.6.1
Loan-to-Value capYesYesYes
IMF Norway Report
A.1.6.2
Are there consumer rights for mortgage lending? YesYesYes
The Consumer Ombudsman
A.1.7
Are there disclosure requirements for mortgage lending?YesYesYes
IMF Norway Report
A.1.8
Is there specialized legislation covering:A.1.9
Issuance of covered mortgage bondsYesYesYes
Norwegian Covered Bonds Market Update 2016
A.1.9.1
B. Housing Finance Subsidies
B.1 Subsidies to Housing Finance Institutions
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Are there subsidized funding sources for mortgage lenders?YesYesYes
Norwegian State Housing Bank
B.1.1
Special government lines of credit YesYesYes
Norwegian State Housing Bank
B.1.1.1
B.2 Subsidies to Households
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
Are there subsidies to households on housing finance?YesYesYes
OECD
B.2.1
Interest rate subsidies by special government fundsYesYesYes
Start-up Loan, Housing Allowance
B.2.1.1
Buy-down of monthly/interest paymentsYesYesYes
Housing Bank - Housing Allowance
B.2.1.2
Down-payment subsidies YesYesYes
Start-up Loan
B.2.1.3
Mortgage interest deductibility from income taxYesYesYes
Deloitte
B.2.1.5
Reach of subsidies in 2.1.1 to 2.1.4 ?B.2.2
C. Taxation
VariableEnd of 2017End of 2016End of 2015SourcesVar ID
What taxes apply to Residential Real Estate?C.1
Tax on property (home-owners) YesYesYes
Deloitte
C.1.1
Property transaction taxes (purchase/selling)NoNoNo
Deloitte
C.1.2
Tax on mortgage interest pmtsNoNoNo
Deloitte
C.1.4
Tax on capital gains on property YesYesYes
Deloitte
C.1.5
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Notes: Amendments added to the Financial Institutions Act in 2013
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: Pre-tax income
Notes: Pre-tax income
Notes: Pre-tax income
Notes: Pre-tax income
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: 1800 USD Fee plus the cost of legal services
Notes: 1800 USD public fee plus the cost of legal assistance
Notes: 1800 USD public fee plus the cost of legal assistance
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: 2014 = 100
Notes: Amendments added to the Financial Institutions Act in 2013
Notes: Amendments added to the Financial Institutions Act in 2013
Notes: Amendments added to the Financial Institutions Act in 2013
Notes: Amendments added to the Financial Institutions Act in 2013  
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices
Notes: Annual Change in Nominal House Prices 
Notes: can finance all or parts of the house cost
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate
Notes: Converted from EURO to USD with end of year exchange rate 
Notes: Converted from EURO to USD with end of year exchange rate  
Notes: Entire Country
Notes: Entire Country
Notes: Entire Country
Notes: Entire Country
Notes: Entire Country
Notes: Entire Country
Notes: First introduced
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: If the owner lived in the property being sold for at least one year, the dwelling is eligible for tax free capital gains
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank Loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank loans
Notes: Inter-bank Loans
Notes: Inter-bank loans
Notes: Inter-bank Loans
Notes: Inter-bank Loans
Notes: Inter-bank loans.
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages
Notes: interest deduction applied to all debts not just mortgages 
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities
Notes: levied at a municipal level, not present in all municipalities 
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure
Notes: National Figure, note that 80% lives in Urban Areas
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015) 
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank is funded by national government. In 2015, the Housing Bank financed almost a fifth of all housing units started through basic construction loans and grants for sheltered housing (annual report 2015)
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank, Other Credit Institutions, Life Insurance Companies
Notes: Norwegian State Housing Bank; funded by the central government, in charge of housing subsidies and grants, also makes market rate loans
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: only a stamp duty of 2.5%
Notes: Percentage of population, not dwelling units
Notes: Percentage of population, not dwelling units
Notes: Percentage of population, not dwelling units
Notes: Pre-tax income
Notes: Pre-tax income
Notes: Tenant, rented at reduced price or free, in all areas
Notes: Tenant, rented at reduced price or free, in all areas
Notes: The Financial Supervisory Authority of Norway  
Notes: The Financial Supervisory Authority of Norway; government agency responsible for oversight of financial institutions
Notes: The Financial Supervisory Authority of Norway; government agency responsible for oversight of financial institutions
Notes: The Financial Supervisory Authority of Norway; government agency responsible for oversight of financial institutions
Notes: The Financial Supervisory Authority of Norway; government agency responsible for oversight of financial institutions
Notes: The report does not mention whether the Housing Bank is included in the data
Notes: The report does not mention whether the Housing Bank is included in the data
Notes: The report does not mention whether the Housing Bank is included in the data
Notes: The report does not mention whether the Housing Bank is included in the data 
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477
Notes: Total Credit from Table 07477