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.
Next steps
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Our loans
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.
Intexed, Non-Indexed or Hybrid Mortgage
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. |
Non-Indexed Mortgage
The payments are initially higher but you can own your home sooner with a Non-Indexed Mortgage.
Fixed rate
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.
Interest rate roof
Our interest rate roof option offers our non-indexed customers a safety net when interest rates rise.
Fixed rate or variable rate?
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 and fees
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
- The standard mortgage fee is ISK59,000 but there is no fee for first time buyers
- Registration fee
- Mortgage issuance fee
- Credit evaluation fee
- Lien check fee
- Loan overview fee
Q&A
It's normal to have questions when you are deciding on a mortgage that suits you . Here we answer frequently asked questions.
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