Payment problems: Mortgage loans
- Defer your payments
If you are unable to make payments due to temporary difficulties, e.g. due to unemployment, illness, accidents or other unforeseen circumstances, then you may be eligible to defer your payments for a period of time. Apply here.
Are you taking maternity/paternity leave?
If a baby is on the way and you are about to start your maternity/paternity leave, then you can delay your mortgage payments by anything up to twelve months.
- Explore loan options
Refinancing loans can be useful in some cases, for example if you want to combine loans and extend the loan period so that monthly loan payments are as low as possible.
Change the terms of the loans
It is also possible to change the terms of the loans you already have, as the loan period is extended to reduce the debt burden, for example. This may be useful if you do not want to refinance your existing loan to keep certain interest rates that may no longer be available today, as interest rates may have risen since you took the loan.
- Private pension
Private pension premiums towards your loan
You can choose between two options when it comes to these first-buy solutions:
- Principal option: Regular payments towards the principle loan amount
- Mixed option: Allocation of a premium towards a non-indexed loan and as payment towards the principal loan amount. In this case, the premium for the first 12 months would be used in full to pay regular instalments and interest on a non-indexed mortgage. This ratio decreases by 10% per year, whereas the ratio of payment towards the principal loan amount increases. These options are available to anyone buying their first property and can be used for a ten-year period. You can apply at www.skatturinn.is
- Fixed rate mortgage
Thinking about switching to a fixed rate mortgage?
Stabilise your payments and stay on-budget. You can fix the interest rate on non-indexed mortgages for 3 or 5 years by changing the Terms and Conditions of your loan. You can read more and apply here.
Book an appointment
Discuss your financial situation with an advisor at your convenience.