Take housing company’s loan in your own name

Renovation coming up in your housing company? Does the financial consideration you are paying to the housing company seem too high? If you take your share of the housing company loan in your own name, you get two advantages: you can tailor the monthly payment to suit your finances and you get a tax benefit.

Housing company loan in your own name Features Credit Information Prices Terms and conditions Housing company loan in your own name

  • Usually when a housing company takes out a renovation loan, the shareholders will repay it gradually to the housing company as a part of the financial consideration.
  • The terms and conditions for a housing company loan, however, are the same for all shareholders, and therefore you cannot influence the amount of financial consideration that you will eventually have to pay. 
  • By taking out a personal loan from Nordea for paying off your share of the housing company loan, you can decide on a loan repayment schedule that best suits your situation.
Features

A personal loan has many advantages compared to the housing company loan.

  • We tailor the loan period and other terms in accordance with your needs. Compare: The terms of housing company loans are the same for everyone, and the financial consideration may become too high to manage for some shareholders.
  • The interest on a personal loan taken out for home acquisition and renovation is tax deductible. Compare: You cannot deduct the interest of a housing company loan in your personal taxation.
  • If your financial situation changes, you can change the repayment schedule by, for example, using instalment-free months. Compare: With a housing company loan a single shareholder’s situation cannot be catered to.

There are several options for converting a housing company loan into a personal loan. The property management company will give you information on the terms of the housing company loan, the amount of your share and the payment dates.

Credit Information

Standard European Consumer Credit Information

To make comparing easier, the applicant has the right to receive the key information on the credit on a Standard European Consumer Credit Information form before signing the credit agreement. The information on the form may be calculated with the details given by the customer or on typical values. The form on this page is calculated with typical values, which means that a typical euro amount for this credit type is applied. 

The form specifies the lender's contact information, the main features of the credit product, the costs, other important legal aspects and, if needed, the additional information required for distance selling. 
The information on the form may be binding or unbinding on the lender. A binding form requires a positive credit decision.  

Standard European Consumer Credit Information (pdf, 219 KB)Opens new window

Prices
Optional reference rates for housing loans and secured consumer credit 
Nordea Prime 
Euribor 12 months  
Fixed rates for 3, 5, 10 and 15 years (quoted on the drawdown date)
The potential reference rates of an ASP loan
Nordea Prime 
Euribor 12 months  
Most common prices for housing loans and secured consumer credits for Key Customer
ItemisationPrice
Arrangement fee *)0,4 %; 300 € minimum
Increased arrangement fee when a loan is secured by a third-party pledge or a guarantee

 *The increase does not apply to interest-subsidised ASP loans

100,00 €
Partial drawdown30,00 €
Automatic debiting of loan payments2,30 €
FlexiPayment for a new housing loan0,00 €
FlexiPayment for an existing housing loan

A fee in accordance with the tariff is charged for the automatic debit of a loan payment.

0,00 €
Advance notice of loan debiting by letter or through Netbank0,00 €
Loan payment, paper invoice6,00 €
Payment reminder to borrower, guarantor or third-party pledger (per reminder)5,00 €
Change in repayment schedule200,00 €
Change of the due date or loan servicing account (Minor change of the repayment schedule)40,00 €
Change of borrower200,00 €
Change of the applied interest or margin200,00 €
Obtaining a guarantor’s or pledge owner’s consent to amend the loan terms, such as the repayment schedule or reference rate35,00 €
Transfer of a loan to another bank upon customer’s request. Charged to the receiving bank. Does not apply to loans intermediated from government funds.120,00 €
Premature repayment of a loan and change of reference rate for loans drawn down on or after 1 December 2010Further information
Premature repayment of a loan and change of reference rate for loans drawn down between 1 January 1994 and 30 November 2010Further information
Early closure fee charged on fixed-interest loans drawn down from KOP bank prior to 8 March 1991Further information
Early closure fee charged on fixed interest loans drawn down from KOP bank between 8 March 1991 and 1 January 1994Further information
Early closure fee charged on loans other than fixed interest loans drawn down from KOP bank prior to 1 January 1994Further information
Early closure fee charged on loans drawn down from SSP bank prior to 1 January 1994Further information

Other prices related to loans and credit 

Prices related to security for loans 

*) Arrangement fee is charged in connection with the first drawdown and with a raise or renewal of a loan.

Optional reference rates for housing loans and secured consumer credit 
Nordea Prime 
Euribor 12 months  
Fixed rates for 3, 5, 10 and 15 years (quoted on the drawdown date)
The potential reference rates of an ASP loan
Nordea Prime 
Euribor 12 months  
Most common prices for housing loans and secured consumer credits for Preferred Customers
ItemisationPrice
Arrangement fee *)0,4 %; 300 € minimum
Increased arrangement fee when a loan is secured by a third-party pledge or a guarantee

 *The increase does not apply to interest-subsidised ASP loans

100,00 €
Partial drawdown30,00 €
Automatic debiting of loan payments2,30 €
FlexiPayment for a new housing loan0,00 €
FlexiPayment for an existing housing loan

A fee in accordance with the tariff is charged for the automatic debit of a loan payment.

0,00 €
Advance notice of loan debiting by letter or through Netbank0,00 €
Loan payment, paper invoice6,00 €
Payment reminder to borrower, guarantor or third-party pledger (per reminder)5,00 €

Change in repayment schedule

- Limited offer from 17 February until 30 June 2015: Instalment-free period for a housing loan (max 12 months) EUR 0.00

200,00 € 
Change of the due date or loan servicing account (Minor change of the repayment schedule)40,00 €
Change of borrower200,00 €
Change of the applied interest or margin200,00 €
Obtaining a guarantor’s or pledge owner’s consent to amend the loan terms, such as the repayment schedule or reference rate35,00 €
Transfer of a loan to another bank upon customer’s request. Charged to the receiving bank. Does not apply to loans intermediated from government funds.120,00 €
Premature repayment of a loan and change of reference rate for loans drawn down on or after 1 December 2010Further information
Premature repayment of a loan and change of reference rate for loans drawn down between 1 January 1994 and 30 November 2010Further information
Early closure fee charged on fixed-interest loans drawn down from KOP bank prior to 8 March 1991Further information
Early closure fee charged on fixed interest loans drawn down from KOP bank between 8 March 1991 and 1 January 1994Further information
Early closure fee charged on loans other than fixed interest loans drawn down from KOP bank prior to 1 January 1994Further information
Early closure fee charged on loans drawn down from SSP bank prior to 1 January 1994Further information

Other prices related to loans and credit 

Prices related to security for loans

*) Arrangement fee is charged in connection with the first drawdown and with a raise or renewal of a loan.

Optional reference rates for housing loans and secured consumer credit 
Nordea Prime 
Euribor 12 months  
Fixed rates for 3, 5, 10 and 15 years (quoted on the drawdown date)
The potential reference rates of an ASP loan 
Nordea Prime 
Euribor 12 months
Most common prices for housing loans and secured consumer credits for Check-in
ItemisationPrice
Arrangement fee *)200 €
Increased arrangement fee when a loan is secured by a third-party pledge or a guarantee 

 *The increase does not apply to interest-subsidised ASP loans

100,00 €
Partial drawdown30,00 €
Automatic debiting of loan payments2,30 €
FlexiPayment for a new housing loan0,00 €
FlexiPayment for an existing housing loan 

A fee in accordance with the tariff is charged for the automatic debit of a loan payment.

0,00 €
Advance notice of loan debiting by letter or through Netbank0,00 €
Loan payment, paper invoice6,00 €
Payment reminder to borrower, guarantor or third-party pledger (per reminder)5,00 €

Change in repayment schedule

- Limited offer from 17 February until 30 June 2015: Instalment-free period for a housing loan (max 12 months) EUR 0.00

200,00 €  
Change of the due date or loan servicing account (Minor change of the repayment schedule)40,00 €
Change of borrower200,00 €
Change of the applied interest or margin200,00 €
Obtaining a guarantor’s or pledge owner’s consent to amend the loan terms, such as the repayment schedule or reference rate35,00 €
Transfer of a loan to another bank upon customer’s request. Charged to the receiving bank. Does not apply to loans intermediated from government funds.120,00 €
Premature repayment of a loan and change of reference rate for loans drawn down on or after 1 December 2010Further information
Premature repayment of a loan and change of reference rate for loans drawn down between 1 January 1994 and 30 November 2010Further information
Early closure fee charged on fixed-interest loans drawn down from KOP bank prior to 8 March 1991Further information
Early closure fee charged on fixed interest loans drawn down from KOP bank between 8 March 1991 and 1 January 1994Further information
Early closure fee charged on loans other than fixed interest loans drawn down from KOP bank prior to 1 January 1994Further information
Early closure fee charged on loans drawn down from SSP bank prior to 1 January 1994Further information

Other prices related to loans and credit 

Prices related to security for loans

*) Arrangement fee is charged in connection with the first drawdown and with a raise or renewal of a loan. 

Optional reference rates for housing loans and secured consumer credit 
Nordea Prime 
Euribor 12 months  
Fixed rates for 3, 5, 10 and 15 years (quoted on the drawdown date)
The potential reference rates of an ASP loan 
Nordea Prime 
Euribor 12 months
Most common prices for housing loans and secured consumer credits
ItemisationPrice
Arrangement fee *)0,4 %; 300 € minimum
Increased arrangement fee when a loan is secured by a third-party pledge or a guarantee 

 *The increase does not apply to interest-subsidised ASP loans

100,00 €
Partial drawdown30,00 €
Automatic debiting of loan payments2,30 €
FlexiPayment for a new housing loan0,00 €
FlexiPayment for an existing housing loan 

A fee in accordance with the tariff is charged for the automatic debit of a loan payment.

0,00 €
Advance notice of loan debiting by letter or through Netbank0,00 €
Loan payment, paper invoice6,00 €
Payment reminder to borrower, guarantor or third-party pledger (per reminder)5,00 €

Change in repayment schedule

- Limited offer from 17 February until 30 June 2015: Instalment-free period for a housing loan (max 12 months) EUR 0.00

200,00 €  
Change of the due date or loan servicing account (Minor change of the repayment schedule)40,00 €
Change of borrower200,00 €
Change of the applied interest or margin200,00 €
Obtaining a guarantor’s or pledge owner’s consent to amend the loan terms, such as the repayment schedule or reference rate35,00 €
Transfer of a loan to another bank upon customer’s request. Charged to the receiving bank. Does not apply to loans intermediated from government funds.120,00 €
Premature repayment of a loan and change of reference rate for loans drawn down on or after 1 December 2010Further information
Premature repayment of a loan and change of reference rate for loans drawn down between 1 January 1994 and 30 November 2010Further information
Early closure fee charged on fixed-interest loans drawn down from KOP bank prior to 8 March 1991Further information
Early closure fee charged on fixed interest loans drawn down from KOP bank between 8 March 1991 and 1 January 1994Further information
Early closure fee charged on loans other than fixed interest loans drawn down from KOP bank prior to 1 January 1994Further information
Early closure fee charged on loans drawn down from SSP bank prior to 1 January 1994Further information 

Other prices related to loans and credit

Prices related to security for loans

*) Arrangement fee is charged in connection with the first drawdown and with a raise or renewal of a loan. 

Terms and conditions

Flexibility for your housing loan repayments

Man sitting thinking by house 

Interest rate hedging makes life secure

With the right interest hedging products, you can protect your finances even when market interest rates change drastically.

Woman looking out of window 

Two alternatives

FlexiPayment gives you leeway for your monthly loan repayment. Another alternative is to extend your instalment-free period. See which one suits you better.