Loan transfer
If you are buying a new property, you can apply for a loan transfer and transfer the loan over to the new property. This way, you keep the same terms with no additional borrowing costs.
Application
Supporting documents:
A signed purchase offer for both properties (the one you are selling and the one you are buying).
The sales statement of the property you are buying.
Information on other housing loans you have.
If you are adding on loans or making a change to the payer of a loan, you will need to submit a credit assessment (may be from the credit institution in question).
A HMS loan advisor will be in touch shortly by email, confirming the application and requesting further information if needed.
Loan transfer approved
When your application for loan transfer has been approved you will receive an email.
When the documents are ready you can pick them up at our office in Borgartún 21, Reykjavík, during opening hours.
When the documents have been registered at the District Commissioner’s office (Sýslumaður), you need to pick them up and return them to HMS.
The cost of the loan transfer is added to the next instalment of the loan.
Cost:
Loan transfer 11.000 ISK
Registration fee at the District Commissioner’s office (Sýslumaður) ISK 2.700
Loan transfer denied
If an application for a loan transfer is denied, you will receive an email with our formal ruling and there you can see our reasons for the refusal. If some documents are missing or if your situation has changed in some way, you can apply for a revision of your application and provide us with new information.
HMS rulings can be appealed to the Welfare Appeals Committee
Service provider
Housing & Construction Authority