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Renovation loans

Applying for a renovation loan

Loan terms

  • A base loan with interest rate revision is up to 70% of the renovation cost.

  • An additional loan up to 80% is possible.

  • The basic fixed-rate loan for the entire term of the loan is up to 80%.

A base loan is called primary mortgage and a supplementary loan is called second mortgage. Additional loans generally have higher interest rates.

See Table of interest

Non-indexed loan

Non-indexed loans have higher monthly payments than indexed loans. Non-indexed loans do not increase with inflation, so asset growth is faster.

Fixed interest rates for 3 years at a time

  • Loan period up to 25 years.

  • Base loan for up to 70%.

  • Additional loan for 71–80%.

  • Additional loan to a loan from another credit institution for 50–80%.

Indexed loan

Indexed loans have lower monthly payments than non-indexed loans. They are linked to inflation so the principal amount can increase initially. This makes the asset growth slower.

Fixed interest rate for 5 years at a time

  • Loan period up to 40 years.

  • Base loan for up to 70%.

  • Additional loan for 71–80%.

  • Additional loan to a loan from another credit institution for 50–80%.

Fixed interest rate over the term of the loan

  • Loan period up to ****35 years

  • Base loan for up to 80%

  • Additional loan to a loan from another credit institution for up to 80%

Applying for a renovation loan

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