Does your home need improvement or would you like to buy a summer cottage? Is your housing company planning a plumbing renovation or other repairs? Are you interested in investing? HomeFlex will free up your home equity so that you can realise your dreams.
- HomeFlex always includes an account and a loan.
- We will transfer the HomeFlex loan in full to your HomeFlex account as a lump sum. The interest on your account is the same as the interest you pay for your loan. You decide when you want to use the HomeFlex loan in your account.
- The home stands as security for the loan and the loan period is 10 years.
- You can use the loan any way you want. You can also use the account as an ordinary bank account.
- You can make deposits freely to the account.
- Make an application in the nearest branch. Book an appointment by calling Nordea Customer Service.
- The loan period is ten years. During this time you don’t have to repay the loan principal – you just pay the interest. After ten years we will agree with you on how to continue.
- You may repay the loan at any time.
- The interest on the loan is tax-deductible if the loan is used for a major renovation of your permanent residence or for obtaining income.
- We will pay the same interest on your HomeFlex Account as you pay for your HomeFlex loan.
- The deposit interest on the account is credited annually
- The deposit interest is paid up to the amount of loan taken.
Example: You take out a loan of 50,000 euros. The loan period is 10 years and the interest rate is 3.00 (1/2017). The APR is 3.2 % and includes an opening fee of 500 euros and monthly fee of 2.30 euros for the automatic debiting of loan payments. The number of payments is 120. The total amount of the loan plus credit costs is 66,773 euros.
Consumers are not granted loans in any other currency than euro.
A housing loan is considered to be currency credit if the loan is granted in a foreign currency other than that of the EU Members State or the state of belonging to the European Economic Area where the consumer resides. Furthermore, a housing loan is considered to be foreign currency credit if the consumer receives his or her income in another currency of a state of the European Economic Area or in currency of a state of European Economic Area.
A foreign exchange risk occurs when the borrower's income or assets to be used to repay the credit are not in the same currency as the credit or the credit is not in the currency of borrower's country of residence. A foreign exchange risk refers to the change in price of one currency in relation to another. During the loan period, the value of the credit or the monthly payment may increase in relation to the borrower's income or assets or the currency of the borrower's country of residence. If the foreign currency of the borrower's country of residence, income or assets falls by 20 per cent in relation to the euro, the borrower receives a warning that the borrower's loan amount will increase in borrower's national currency.
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.
|Opening fee||500,00 €|
|Interest paid on HomeFlex loan and account as of 24 October 2013*||Nordea Prime + 2,20 %|
Interest paid on HomeFlex loan and account, agreements signed before 24 October 2013
|Nordea Prime + 1,90 %|
|Interest paid on HomeFlex loan and account, agreements signed before 16 November 2012||Nordea Prime + 1,60 %|
|Interest paid on HomeFlex loan and account, agreements signed before 1 September 2009
||Nordea Prime + 1,40 %
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.