Construction Loan

A loan designed specifically for construction, refurbishment, land purchases or summer house purchases.

Next step

You need to provide us with an invoice for any product or service related to the loan
Loan fee
1.7%
Lending period
Up to 5 years
Maximum loan amount
ISK 2 million
Type
Non-indexed

How does a Construction Loan work?


Who can apply for a construction loan?

A good credit history and the ability to make payments are key factors in securing a construction loan.

Loan amount

The maximum loan amount is ISK 2 million. We can offer a loan of ISK 1 million (without collateral) if the applicant can prove his or her payment ability. The interest rates of the loan is variable depending on each individual‘s credit score. The interest rates are non-indexed.

How does it work?

The loan is paid once proof of purchase or services has been provided.

Our loan calculator can help you calculate your costs. The calculator is only available in Icelandic.