We have lowered the price of loans intended for energy-efficient renovations

In the past few months, energy prices have risen rapidly and increased the cost of living and heating. To support Finns in these challenging circumstances, we lowered the margin of loans intended for energy-efficient renovations on 21 October 2022. ​

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Five reasons to seek financing for an energy-efficient renovation:

  1. Lower costs: switching to natural gas heating reduces your monthly living costs 
  2. Feel better in your home: your home becomes less draughty when you replace your windows with more energy-efficient ones
  3. Higher sale price: a well-maintained property will not only keep its value but sell faster 
  4. Lower greenhouse gas emissions: heating makes up a significant part of your household’s carbon footprint, which you can reduce by switching to a green heating system
  5. More comfortable living: an energy-efficient heating system provides you with constant room temperature that is easier to control as well as better indoor air quality 

Did you know that...?

In Finland, the main use of energy by households is for heating their homes. Energy efficiency improvements save both money and the environment. In addition to doing good for the planet, homeowners also benefit from increased property value.

We have lowered the price of loans intended for energy-efficient renovations

The lower price applies to the following renovations in detached or semi-detached houses:

  • Switching heating systems (such as switching from oil to geothermal energy)
  • Buying and installing an exhaust air heat pump or air source heat pump
  • Switching to more energy-efficient windows and doors
  • Adding insulation to exterior walls
  • Buying and installing solar panels
  • Renovating the roof and adding insulation to the roof structure

Renovation loans are secured loans, which means that your will need to provide collateral for the loan, such as the house you will be renovating. The margin of a loan intended for an energy-efficient renovation is lower than the margin of a loan intended for other renovations. Apply for loan

Pricing is determined separately for each customer. The loan requires a credit decision from us, and we will check the purpose of the renovation before we grant the loan with a special price. The price comparison is based on customer-specific average margins, and it doesn’t account for the reference rate or any other loan costs. The lower margin is available to new loans.

Did you know this?

Home owners also get FlexiCredit at a lower price as Nordea customers. You can use FlexiCredit for smaller renovations, such as installing a heat pump supporting your heating system. Read more

You can get a secured loan from us if you:

  • do all your banking at Nordea and have a regular income 
  • have an asset to use as collateral (such as a home or an investment)
  • have a Finnish personal identity number and a home address in Finland
  • have a clean credit record  

Save costs and increase the value of your property

Examples of energy-efficient renovations:

  • Switching from oil heating to natural gas
  • Switching from electric heating to natural gas
  • Installing an air source heat pump
  • Installing a solar collector or solar panels
  • Installing an air-to-water heat pump
  • Replacing windows and doors with more energy-efficient ones
  • Improving insulation

What kind of energy efficiency improvements can a housing company make?

An energy-efficient renovation saves on costs, increases the value of your housing company, reduces the charge for common expenses and therefore saves the homeowners money.

Read more

Five steps to an energy-efficient renovation of a single-family house

In Finland, living costs account for a large part of your budget if you live in a single-family house. By improving the energy efficiency of your home, you can significantly reduce your living costs.

Read more

Do you want to live in an energy-efficient home?

Making small choices every day and paying attention to the maintenance of your home lay the ground for energy-efficient living. By making your home more energy-efficient, you can reduce your carbon footprint and living costs and live more comfortably.

Read our tips for improving energy efficiency

What is energy efficiency?