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.
Our loans
We offer a basic mortgage with a pay back period of up to 40 years. You can also apply for an additional mortgage that can be paid over a period 40 years as well. See mortgage calculator.
You can either pay the same amount each month or pay less initially.
Finding the money to pay for your first home can be tough. We offer an extra loan of up to ISK 7.000.000 to help you take that first step. Read more about first buy.
You can pay towards your loan or pay off your loan using the online bank. See instructions
Lending period and fees
We provide a basic loan up to 50% of the purchase price of residential housing. Borrowers are also offered to take out additional loans up to 80% of the purchase price of residential housing. Special rules apply for loans in excess of 75 m.ISK.
We offer a special extra loan up to a maximum of ISK 7,000,000 for those who are buying housing for the first time. The loan is in addition to the traditional 80% housing financing of the purchase price, but a maximum of 90% of the purchase price of the housing.
We offer refinancing up to 70% of real estate valuation, basic loan up to 50% and additional loan up to 70%.
Indexed, Non-Indexed or Hybrid Mortgage
How do our mortgages differ?
Non-Indexed | Indexed | Hybrid Mortgage |
The payments are initially higher but you can pay off your mortgage at a quicker rate. | Payments are initially lower because part of the financing costs are added to the principal amount but paid in full during the loan period. | A hybrid mortgage is both indexed and non-indexed. You decide the ratio and enjoy the benefits of both. |
The payments are initially higher | The payments are initially lower | |
Indexation is like interest that is added to the principal of the loan. | ||
Equal payments or equal installments?
Equal payments | Equal installments |
We pay approximately the same total amount each month | We pay the same amount directly to the principal each month |
Initially lower payments | Initially higher payments |
Changing to fixed rate
The payments are initially higher but you can pay your mortgage off sooner with a Non-Indexed Mortgage.
You can contact us if you wish to change your mortgage loan from variable interest rate to fixed interest rate for non-indexed loans.
Our fixed rate mortgage offers a fixed interest rate for the first 3-5 years, which means that payments remain stable. The interest rate becomes variable once the fixed period ends. You will have to pay a fee if you pay off the mortgage during the fixed rate period.
Green Mortgages
We offer more favorable terms on mortgages when financing environmentally friendly housing that has received approved environmental certification.
No borrowing fee is charged for green mortgages and in addition we provide an 0.10% interest discount on mortgage terms if the property is eco-certified.
FAQs
It's normal to have questions when you are deciding on a mortgage that suits you . Here we answer frequently asked questions.
Book an appointment with an advisor
It costs nothing to come to us for mortgage advice. If you want to review the matter with a specialist, you can book an appointment below