Find the best deal on your home loan

The loan margin depends on the applicant

People who are planning to apply for a home loan often ask their family and friends about the margins they have been offered by banks.

But a loan offer is always personal, as many individual factors and the risks assessed by the banks influence the margins they offer, and these criteria may vary greatly depending on the bank.

For this reason, we recommend that you shop around to find the best deal for you and do not rely on your perception of or someone else’s opinion on which bank offers the lowest margin.

Once you have requested loan offers specific to you and your needs from different banks, you can compare the margins they offer. But you should not choose a bank based on the loan margin alone.

Margins made simple

Consider both price and flexibility

When you compare home loan deals, it’s important to remember that the margin only makes up a part of your total loan costs. A big factor that could increase your loan costs is a rise in the reference rate of your loan.

Although it makes sense to compare the margins different banks offer, you shouldn’t base your decision solely on the loan margin.

Flexibility with repayment can be just as – or even more – important.

Our home loans include a unique feature called FlexiPayment, which gives you flexibility with your home loan repayments, as you can reduce your monthly payment when you need it, or skip it altogether and only pay the interest and expenses. Once you can afford a higher monthly payment again, you can increase it just as easily.

Manage your monthly payment in Nordea Mobile and Netbank

• You can reduce or increase the monthly payment of your variable-rate home loan by taking advantage of our free FlexiPayment feature.

• You can also make a variety of other changes to your home loan in our mobile banking app.

• We are here to support you in Nordea Mobile and Netbank every step of the way.

Take into account all your banking needs

When you’re trying to decide which lender to choose for your home loan, it often makes sense to move your other services to the same bank so you can have all your banking in one place.

For this reason, you should also consider the bank’s full service range and digital offering.

Benefits we offer to our home loan customers

• Free investment advice

• Low prices for daily banking services. If you have our mobile banking app, you get an account and 1 to 2 cards (Nordea Debit or Gold) free of charge.

• Our free FlexiPayment feature enables you to adjust the monthly payment of your variable-rate home loan to suit your circumstances.
• Discounts on insurance services

We always offer you services that best meet your needs based on your overall finances. This is why we ask you about your monthly income and expenses, savings and insurance needs when you apply for a loan promise from us. 

We recommend that you save regularly while repaying your home loan because having savings means you’ll have something to rely on if interest rates rise. 

If your repayment ability suffers as a result of unemployment or illness, for example, it’s also good to have loan insurance. If you have a home loan from us, we offer you a 15% discount on new MyLife insurance policies.

See all the benefits we offer to our home loan customers

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The biggest expenses in a home loan consist of the loan margin you have negotiated and the reference rate chosen, such as the 12-month Euribor. However, a home loan often includes other smaller expenses, including an initial opening fee or repayment fees. The total of all these costs is expressed through the annual percentage rate of charge (APR). 

Example of a home loan and the annual percentage rate of charge

Example calculation: You take out a loan of 150,000 euros. The loan period is 24 years and the interest rate is 4.20% (April 2024). The APR is 4.4%, including an opening fee of 600 euros and a monthly fee of 2.50 euros for the automatic debiting of loan payments. The number of payments is 288. The total amount of the loan and loan costs is 240,582 euros. The monthly payment (annuity) is 830 euros.

The amount of the loan, the loan period and the interest are a representative example for the home loans offered by Nordea. Please note that the example calculation above is indicative and does not necessarily correspond to the actual annual percentage rate of charge on the loan to be granted to you. You can check the fees and prices of our home loans from our tariff below.

Read more about home loan interest

Common fees on home loans

Charges related to unsecured home loans drawn down after 1 September 2019

Personal customer´s foreign currency credits

Prices related to security for loans

Early closure fees of premature repayments of loans

1. Fill in our loan application online. On the application, we will ask about your monthly income, savings, loans and collateral and details about the home. 
2. Once you have submitted the application, we will get back to you in 1–2 days. 
3. If we need to discuss the loan with you in further detail, we will book you for an online or phone meeting.
4. If your application is accepted, you will get a loan promise from us after the loan negotiation.
   
   Read more about requesting a loan offer

How to speed up the handling process of your home loan application if you’re a customer of another bank

If you’re not a Nordea customer, we need to have your salary certificate from the past three months. If you’re applying for a loan together with your spouse, for example, we need to have salary certificates, account transactions and details on existing loans from both applicants. You can get the salary certificate from your employer.

After you have submitted your home loan application, you can send us your salary certificates and other documents by logging in to Nordea Omaposti with your bank’s online banking codes. In OmaPosti, choose ‘Loans and credit’ as the topic of the message and write ‘Home loan application/salary certificate’ in the message field. Add documents from your computer as attachments to the message.

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.