The recent measures adopted – which restrict the payment-to-income ratio and set out that at least one-third of the mortgage should be at a fixed interest rate – are acting to reduce the risk that households that took out a mortgage will have difficulty in meeting their payments, for instance in a situation where one of the household members loses his job, or if the burden of repayment increases due to an increase in the interest rate.
The decline in the share of mortgages with an loan-to-value (LTV) ratio above 60 percent, and the decline in the share of mortgages with a payment-toincome (PTI) ratio above 40 percent, indicate that the measures adopted have reduced the risk inherent in mortgages (slide 9).