How to prepare for a housing loan negotiation
Buying a home is one of the biggest deals of your life. You should prepare carefully for a housing loan negotiation, where we will discuss your wishes and tailor a suitable housing loan for you.
- Read the Nordea Housing pages, where you can find useful information on housing loans and buying a home.
Our Customer Service will also be happy to provide expert advice.
- Apply for a loan in Netbank or through our website. You will get a loan decision faster and easier if you fill in an application in advance.
- Once we have received your application, we will contact you within three banking days and, if necessary, set up a meeting for a housing loan negotiation at one of our branches.
- You can also book a meeting directly through Customer Service.
Here is how you should prepare for a housing loan negotiation:
- Calculate your monthly expenses and fill in the budget estimate (In Finnish) in advance.
Bring the budget estimate with you to the meeting.
- Consider how much you can spend each month on repaying all of your loans and how much you could save at the same time.
- Collect information on all your current loans and credit cards and any guarantees you have granted.
- Calculate your total savings and how much you could spend on buying a home.
- If you already have in mind a home that you would like to buy, bring the basic documents on the home (e.g. certificate from the property management company) with you or make a note of the potential home's price, size and location.
- If you are planning to build a house, read our Builder's Pages and prepare a cost estimate in advance.
- Remember to bring some form of identification with you to the negotiation.
If you are not yet a Nordea customer, please bring your latest wage slip and copies of your account statements over the last few months.
If there is more than one applicant for the loan, we will need this information from all applicants.
- Reserve a good amount of time for the negotiation. Welcome!
At the housing loan negotiation, we will discuss your wishes and tailor a suitable housing loan for you.
We will discuss the following matters with you:
- What kind of home are you looking for or are you planning to build your own house?
- What is the most suitable repayment schedule for you?
- What kind of security can you provide for your loan?
- What is the most suitable option for you to hedge against a rise in interest rates?
- How will you ensure loan repayment (in Finnish)in the event of illness, an accident, unemployment or death?
- How can you save while you are repaying your loan?
- What kind of benefits will you receive as a Nordea Key Customer?
At the end of the negotiation, we will give a recommendation for a loan that suits your circumstances and you can start searching for the home of your dreams!
Once you have found a home you would like to buy:
- If the seller has accepted your offer, you should contact the bank without delay and inform us at least one week in advance of the date on which the transaction will be concluded and the credit documents are to be signed.
- Deliver the necessary documents to the bank (e.g. certificate from the property management company).
- Give the details of your contact person at Nordea to the real estate dealer.
- We will send the credit documents to your current address so you can read them before drawing down the loan.
Please also note that any guarantors or third-party pledgers must sign the necessary documents.
- Remember to bring a form of identification with you for the conclusion of the transaction.
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.