Our range of options
We offer both indexed and non-indexed loans as well as the option of mixing the two. Explore our options to see what suits you.
We offer both indexed and non-indexed loans as well as the option of mixing the two. Explore our options to see what suits you.
A mortgage covering 70% of your property value can be paid over a 40 year period and an additional mortgage covering up to 80% can be paid over a period of 25 years
You can either pay the same amount each month or pay less to begin with.
Þú getur greitt inn á lánin eða greitt lánin upp í netbanka. Sjá leiðbeiningar
Finding the money to pay for your first home can be tough. We offer an extra loan of up to ISK 3 million to help you take that first step. Read more about first buy.
Characteristics of different types of loans
Non-Indexed | Indexed | Hybrid Mortgage |
The payments are initially higher but you can own your home sooner | Payments are initially lower because part of the financing costs are added to the principal amount but paid in full during the loan period | You can choose the indexed and non-indexed route with a hybrid mortgage. You decide the ratio and enjoy the benefits of both. |
Two types of mortgages, with variable rate or with fixed rate for a 3-5 year period | Two types of mortgages, with variable rate or with fixed rate, the interest rate is reviewed every 5 years. | You can mix and match a Hybrid Mortgage so that part of the loan is fixed rate and part of it is variable rate. |
The payments are initially higher | The payments are lower then to begin with | You can divide the loan amount into two or more loan types. This gives you the option of creating an indexed, non-indexed ratio to suit your needs. |
The payments are initially higher but you can own your home sooner with a Non-Indexed Mortgage.
Our fixed rate mortgage offers a fixed interest rate for the first 3-5 years, which makes the payments stable. Interest rate becomes variable once fixed rate period is complete. You pay a fee if you pay off the mortgage during the fixed rate period.
Our interest rate roof option offers our non-indexed customers a safety net when interest rates rise.
Það getur verið snúið að velja hvort lánið eigi að bera fasta vexti eða breytilega.
Fixed rate | Variable rate |
Payments are stable | Payments vary according to the interest rate each time |
Fixed interest rates for Non-Indexed Mortgage is a 3-5 year period. Interest rate becomes variable once fixed rate period is complete. | Variable interest rates for Non-Indexed Mortgage depend on the bank's financing costs and market conditions |
Fixed interest rate for Indexed Mortgages is reviewed every 5 years | Variable interest rate for Indexed Mortgages Interest rates depend on the bank's financing costs and market conditions |
Fixed rate mortgages charge a prepayment fee if the amount is prepaid during the fixed rate period. You can pay an additional ISK 1 million into your fixed rate mortgage each year without paying a fee | Non-indexed loans are converted to variable interest rate loans at the end of the fixed interest period, and the prepayment fee is waived. |
Lending period
The mortgage lending period ranges from 5 to 40 years and you can also apply for an additional mortgage with a 25 year lending period.
You can choose between even payments on the principle amount and even payments.
Mortgage fees
It's normal to have questions when you are deciding on a mortgage that suits you . Here we answer frequently asked questions.
Do you need help? This information might help. If you need further assistance, then you can chat with us via the online chat or call us.