The Danish Mortgage Model

- It's probably the best in the World

Denmark has one of the world’s largest mortgage markets totalling around EUR 320bn.


In December 2008 – at the peak of the financial crisis – mortgage loans of around EUR 50bn were up for refinancing. How would the Danish mortgage market perform in the midst of the global crisis?


The Danish mortgage system performed surprisingly well. The system stood strong during the financial crisis!


Just as the Danish mortgage system has successfully weathered other difficult economic crises since it emerged around two centuries ago. 


Why is it that the Danish mortgage system is so robust? Why is it repeatedly pointed to as an example to follow internationally?


This film provides the answers to these questions and explains the structure of the Danish mortgage system and how it differs from the systems of other countries.
The film features interviews with:

  • Jens Thomsen, former Governor of the Danish central bank – Danmarks Nationalbank.
  • Dorrit Vanglo, CEO of LD.
  • Paula Ekelund, homeowner with mortgage loan.
  • Alan Boyce, CEO of Absalon, a company owned by Soros Fund Management and VP Securities.
  • Peter Engberg Jensen, Group Chief Executive of Nykredit, the largest mortgage lender in Denmark, and Chairman of the Association of Danish Mortgage Banks as well as Chairman of the European Mortgage Federation.


Publication on the traditional Danish mortgage model


The Association of Danish Mortgage Banks has released the publication: "The traditional Danish mortgage model". The publication describes the principles of the Danish mortgage model.


It also describes the recent changes to the Danish legislation on covered bonds, and the reasons why the financial crises did not lead to any serious consequences for neither Danish mortgage banks nor lenders of mortgage loans.


Download the publication here (1,4 MB)

Annual Report


The Association of Danish Mortgage Banks has released its annual report 2010 in English.


Download it here. (4 mb)