Swedes feel cheated by the bank
Why does the neighbor always get the best mortgage deal?
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On average, every seven person in the Nordic countries believe they have been cheated by their bank, a survey by online stockbroker Nordet said Tuesday.
“In Denmark, as many as one in five feel that they have been fooled by the bank, which is a remarkably high figure. Norway is not far behind”, said Johan Tidestad, head of Nordnet in Sweden. "Swedes in general feel less cheated by the bank than their Nordic neighbors".
The figures are “a genuine failing mark” for the entire banking sector, he pointed out.
The main source of being deceived was when borrowing money and applying for housing loans.
“It was always the feeling that your neighbor has got a better interest rate than oneself", says John Tidestad. "There is a wealth of secret discount models and reward schemes. Official interest rates mostly seem to have the task to provide information on the maximum interest rate you as a customer may pay".
Last month another Nordnet survey said that a majority of prognoses made by stock market analysts covering Sweden’s largest companies, listed on OMX Stockholm 30, fail to predict outcome and earnings. Only 39 percent of the companies’ fourth-quarter earnings were in line with expectations.
Last Updated (Tuesday, 18 May 2010 07:23)
