Forms of residence
Own home, rental home, partially owned home or right-of-occupancy housing? Choose the one that best suits you.
When you want to buy yourself a home, the best financing solution is a housing loan. By getting a loan promise beforehand you can make an offer as soon as you find the right home. You can also take out a housing loan to pay your share of a housing company loan.
The housing loan interest is tax-deductible. If you are 18–39 years old when buying your first home, you are exempt from asset transfer tax.
Buying your own home and taking out a housing loan are usually part of a long-term plan. That is why you should consider potential changes in your life situation in the future. By hedging your housing loan against changes in interest rates, you can keep your finances balanced and secure your ability to repay your loan. In addition, loan cover will enable you to continue to repay your loan in unexpected circumstances. Designing your housing loan with us so as to enable you to save some of your income – for example, in funds – will give more flexibility to your finances and leave you with new capital waiting for you in the future.
Landlords usually demand a rental security deposit amounting to 1–3 months’ rent. The deposit will be returned to you when the tenancy ends. You can open an account for the rental security deposit at Nordea.
In addition to the rent, you must pay the electricity bill and other potential user charges. You also need to take out home insurance, which is handily available at Nordea.
If you are under 30 and plan to buy your own home, you should consider home saving in an ASP account.
Right-of-occupancy is a form of housing in which the resident pays for the right to occupy a flat or a house. In addition, the resident is charged a maintenance charge.
You get the right to occupy a flat or a house by concluding a right-of-occupancy contract with the owner. The contract can also be used as security for a loan. To get a right-of-occupancy home you only need 15% of the price of the flat or house. The interest on the loan taken out for a right-of-occupancy home is tax-deductible.
Partially owned home
A partially owned home refers to an arrangement in which you purchase a part of the shares entitling to a home and move in as a tenant. Partially owned homes are either state subsidised or privately financed. You have to pay approximately 10–30% of the price of the property.
Advice on housing
With the right interest hedging products, you can protect your finances even when market interest rates change drastically.
FlexiPayment gives you leeway for your monthly loan repayment. Another alternative is to extend your instalment-free period. See which one suits you better.