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Nordax Bank publishes third Relationship Report with focus on equality in the Swedish housing market

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The report shows that one out of five women cannot leave a relationship due to their housing situation
 

Stockholm, Sweden, April 25th, 2023: For the third consecutive year, Nordax Bank, in collaboration with Novus, releases the Relationship Report, which investigates how the housing market affects the lives and relationships of Swedes. This year's report shows, among other things, that one in five women states that they have not been able to leave a relationship because of their housing situation. The Relationship Report also shows that more than half of the respondents feel that their relationship with their partner is affected by negative economic changes. The Relationship Report is the largest Swedish survey of its kind with over 4,700 respondents.

Jacob Lundblad, CEO at Nordax Bank comments:
“It is sad that we don’t see any improvement in women’s ability to leave a bad relationship. The report also clearly shows that the recession has made us more short-sighted, as we now have a greater focus on increasing interest rates and on inflation. But it is incredibly important that we can keep two thoughts in our heads at the same time and not lose sight of the gender equality issue on a macro level”.

The Relationship Report also shows that the Swedes have become even worse at talking to their partner about what would happen to the shared housing in the event of a possible separation or divorce. Nearly seven in ten (67 percent) have never talked to their partner about it, which is an increase of six percentage points compared to the previous year.

Jacob Lundblad comments:
“We need to talk with each other about money and priorities in our relationships. Ensuring fair conditions for both parties in a relationship is fundamental to equality. It directly links to one of our main focus areas, which is to contribute to increased financial health for more people. In that work the Relationship Report, with the commitment it creates and the educational effect it has, is an important part. For us, everything is connected because sustainability and responsibility are natural parts of the business. This is something that encompass and manifests itself throughout the whole organization, both internally and externally. Our hope is that we with this report can shed further light on the issue of an equal housing market, and that it will be a call for more actors to do the same”.

The Relationship Report 2023 also shows that:

• The Swedes are aware that there are differences between the sexes and their financial conditions. Almost half of all women (49 percent) state that their partner would be better off financially if they separated today. Among men, that figure is only 21 percent.

• Women between the ages of 18–29 are most worried about their future housing situation. At the same time, Swedes are less worried about their future housing situation compared to the previous year (22 percent in 2022, 16 percent in 2023).

• Women (31 percent) think it is more difficult to find a new home after a separation than men do (24 percent).

• Women from Västerbotten county (27 per cent), Västmanland county (24 per cent) and Södermanland county (23 per cent) to a greater extent state that they stayed in a relationship because of the housing situation, than the country average (20 per cent).

• The report shows that there has been a positive change when it comes to finding a home of your own after a separation. However, as in previous years, women (31 percent) are more vulnerable than men (24 percent).


Read the full Relationship Report 2023 here (in Swedish).
 

Contact
Oliver Hofmann, Head of Communication & ESG
oliver.hofmann@nordax.se
+46 768 786 163




About the survey

The survey was carried out by Novus on behalf of Nordax Bank. The purpose is to examine how the Swedish public views the Swedish housing market, as well as how gender equality affects the Swedes' housing situation and relationships. The survey was conducted via web interviews in Novus' randomly recruited and representative Swedish panel. A total of 4,704 interviews were conducted, between February 2 and February 20, 2023, in the ages of 18 to 65 years.


About Nordax Bank

Nordax Bank is a leading specialist bank in Northern Europe with strong owners in the form of Nordic Capital Fund IX, Nordic Capital Fund VIII and Sampo. We currently have around 2 million private customers, of which just under 1.2 million are credit card customers, in the Nordic countries, Spain, Germany and the Netherlands. We are a specialist bank that through responsible lending helps people make informed decisions for a life they can afford. We are a flexible complement to the major banks. Instead of quantity, we have specialised in a few selected products that we know best: personal loans, mortgages, equity release mortgages, credit cards and savings accounts. In November 2021, Nordax Bank acquired Bank Norwegian ASA, which brought not only a large number of customers to the Group but also complementary strengths in product expertise, digital distribution and geographical presence. Since 2019, Svensk Hypotekspension, which is a specialist in equity release products, is a wholly owned subsidiary of Nordax Bank. The Group has just under 600 employees, with offices in Stockholm, Malmö, Gothenburg and Fornebu, Oslo. The credit assessment process is one of Nordax’s core competences. It is thorough, sound and data driven. Nordax’s customers are financially stable. As at 31 December 2022, lending to the public amounted to SEK 88.8 billion and deposits to SEK 77.1 billion. Read more about Nordax at http://www.nordaxgroup.com

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bank equality Nordax Nordax Bank Relationship Report

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For the third consecutive year, Nordax Bank, in collaboration with Novus, releases the Relationship Report, which investigates how the housing market affects the lives and relationships of Swedes. This year's report shows, among other things, that one in five women states that they have not been able to leave a relationship because of their housing situation.
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It is sad that we don’t see any improvement in women’s ability to leave a bad relationship. The report also clearly shows that the recession has made us more short-sighted, as we now have a greater focus on increasing interest rates and on inflation. But it is incredibly important that we can keep two thoughts in our heads at the same time and not lose sight of the gender equality issue on a macro level.
Jacob Lundblad, CEO at Nordax Bank
We need to talk with each other about money and priorities in our relationships. Ensuring fair conditions for both parties in a relationship is fundamental to equality. It directly links to one of our main focus areas, which is to contribute to increased financial health for more people. In that work the Relationship Report, with the commitment it creates and the educational effect it has, is an important part. For us, everything is connected because sustainability and responsibility are natural parts of the business. This is something that encompass and manifests itself throughout the whole organization, both internally and externally. Our hope is that we with this report can shed further light on the issue of an equal housing market, and that it will be a call for more actors to do the same.
Jacob Lundblad, CEO at Nordax Bank