New service in electronic registrations

Package services for purchase agreements, mortgage bonds, and mortgage permits will be available to lenders and real estate agents from August 12th, 2025. With the Package functionality, it will be possible to combine related transactions into a single package that is described in parliamentary form, for example, for real estate transactions and loan refinancing. This change will increase efficiency, ensure consistency, reduce processing times, and reduce the risk of error when more than one transaction is related to the same real estate transaction.

The package services were to be released in early July but were postponed until after the summer holiday period to ensure safe implementation. The services are already available in the test environment for electronic registrations, and lenders and real estate agents can therefore already implement the package services and start testing. The package services include regulatory support and have undergone thorough user testing.

A major step in the digitalisation of real estate purchases

The package services are a major step in digitising real estate purchases and loan transactions, which will provide a large macroeconomic benefit for lenders, buyers, and sellers. Such benefits are not only financial, but also result in improved services in a more modern and environmentally friendly way.

Further information on package operations and package services can be found on Ísland.is: Package Functionality in Electronic Registration.

A flow diagram of package services in Icelandic

Enlarge the flow diagram of package services