What are the benefits?

  • A maximum loan amount of ISK 3 million
  • The loan is an addition to your 80% mortgage but the total mortgage amount must not exceed 90% of the property value
  • Variable non-indexed interest rate on bonded loans in accordance with the bank's interest rate table each time
  • Maximum lending period of 10 years and you can choose between equal payments on the principle amount or equal payments
  • No loan or prepayment fee
  • Each applicant must successfully complete a credit evaluation
  • You can use the tax free option on your pension to pay the loan off sooner

Credit score evaluation


What is a credit score evaluation? Your credit score shows how capable you are of paying your mortgage payments.

How can I be evaluated?

You can receive an instant credit score evaluation, within 5 minutes, by filling out your details here. You can then complete a full evaluation online, without visiting our branches.

Lending period and fees


Lending period

An additional loan is a non-indexed mortgage with a variable rate which is calculated according to the bank's interest table at any given time. The maximum lending period is 10 years and you can choose between equal payments on the principle amount or equal payments.

Fees

  • Registration fee
  • Mortgage issuance fee
  • Credit evaluation fee
  • Lien check fee
  • Loan overview fee

Can I apply for Mortgage Plus?


You can apply for the Mortgage Plus option if you fulfil the following criteria:

  • Individuals intending to buy or refinance a home for own use can apply
  • Íslandsbánki will have first lien position or equal lien on the property
  • The financial status of the applicant and property price are considered each time
  • Each applicant must successfully complete a credit evaluation