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If you want to make changes to your repayment schedule, apply for them in Nordea Netbank or Mobile

Life has many twists and turns, and the repayment schedule you have negotiated with us may sometimes need changing. If you have a child or change jobs, for instance, it may have an effect on your income flows. 

You can make changes to your repayment schedule in Nordea Mobile or Netbank or by filling in the application form. 

  1. Go to the application form.
  2. Select the change you want to make and confirm the application.
  3. If you are a co-borrower, go to the application form and confirm the application. 

Go to application form

Take a free payment holiday when you’re on parental leave

You can get a payment holiday of up to six months on your home loan free of charge if you apply for one when you’re on parental leave. The payment holiday can extend up to 12 months if both guardians take parental leave and each of them applies for a 6-month payment holiday.

During the payment holiday, you only pay interest and expenses for the loan. 

This benefit is intended to help families with children balance their daily finances and to support a more equal distribution of parental leaves in Finland. 

Even if you have already taken a payment holiday, you can still apply for this benefit. A payment holiday does not affect the FlexiPayment feature included in your loan.

The normal fee for a payment holiday is 150 euros when applied for online and 250 euros when applied for through our Customer Service. 

Read more about parental leave

You can apply for these changes to your home loan

  • You can apply for a payment holiday between 1 and 24 months. During the payment holiday, you only pay interest and expenses for the loan. 
  • The repayment methods we offer are equal payments (annuity), equal instalments and fixed equal payments. 
  • You can change your reference rate to any Euribor rate or our Nordea Prime rate.
  • You can also apply for a change in the monthly payment, debiting account and due date. 

You can include all changes in the same application. Changes may not always be possible. If this is the case, we will contact you. For example, you can’t reduce the monthly payment in a way that would extend the loan period beyond the maximum period for home loans (30 years).

If the loan has a co-borrower, both borrowers will need to confirm the application before we can process it.

When should I apply for a payment holiday?

You should apply for a payment holiday if you need repayment relief for several months. You can apply for a payment holiday up to two years.

A long payment holiday may be a convenient option for the duration of your parental leave or if you experience another major change in life. 

You can also apply for a smaller monthly payment. This may be a good idea if you need to reduce your monthly payment permanently for a longer period of time. 

The easiest way to add flexibility to your loan repayments is the FlexiPayment feature included in your loan. If you have used up your FlexiPayment, you can apply for a payment holiday. 

Note that reducing the monthly payment extends the loan period which usually can’t exceed 30 years. 

Read more about FlexiPayment.

How much will the changes cost?

You can add FlexiPayment to your loan and change the debiting account and the due date free of charge as long as you apply for these changes in Nordea Mobile or Netbank or by using our online form. Any other changes are subject to a fee. The fee will be lower if you apply for the changes in Nordea Mobile or Netbank or by using our online form. 

See our tariff.

Payment holiday or FlexiPayment?

Payment holidayFlexiPayment
What is the duration?

1–24 months.

As long as you have FlexiPayment amount remaining.

Can I decide myself how much I repay each month?

No, you must agree on the duration beforehand.Yes.
Is the feature available for loans including an interest subsidy or interest rate cap?Yes.No.
How can I use the feature?Apply for it in Nordea Mobile or Netbank or with an online form.It is automatically included in new home loans.
Is it free of charge?No. See our tariff.Yes, you can use it free of charge.

When should I apply for a change to the reference rate?

You should choose the reference rate based on your circumstances, and you shouldn’t change it very often, as you will have to pay a fee. 

One thing applies to all reference rates: it’s impossible to say beforehand whether you will benefit from your rate choice or not. For example, the benefit you get by choosing the 12-month Euribor is that you will know the amount of your monthly payments (with both principal and interest included) for 12 months ahead, which will help you plan your finances. 

Shorter rates are quicker to react to changes in the interest rate level, but you will also have to accept that your loan servicing costs may change quickly. 

You can apply for a change to the reference rate from the 12-month Euribor to Nordea Prime or vice versa by filling in the appropriate form. If you want to discuss the 3-month or 6-month Euribor, please call us.

Read more about home loan reference rates.

When should I apply for a change to the repayment method?

If your situation in life changes, you may find that another repayment method would suit you better. For example, you may want to reconsider your repayment method if your costs jump, if you change jobs or if you change homes.

The repayment methods differ from each other in how precisely you know the loan period or what are the proportions of the principal and interest.

  • Equal payments (annuity) is a good choice if you want a fixed loan period. 
  • Equal instalments suits you if you want your monthly payments to be larger at the beginning of the loan period than towards the end of the period. 
  • Fixed equal payments is a fitting option if you want to know the exact size of your monthly payments well into the future, and the duration of the loan period is not as important.

Read more about the repayment methods.

Apply for changes to your loan in Nordea Mobile

  1. Log in to Nordea Mobile.
  2. Go to the Overview tab and select ‘Loans’.
  3. Select the relevant loan.
  4. Tap ‘Manage loan’.

Apply for changes to your loan in Nordea Netbank

  1. Log in to Nordea Netbank.
  2. Go to the Finances tab and select ‘Loans’.
  3. Select the relevant loan.
  4. Go to ‘Manage loan’.

Frequently asked questions about changes to your home loan

Having trouble repaying your loans?

If you’re falling behind on your loan repayments, it’s important to know you’re not alone – we can help!

Read about what to do if you’re having trouble repaying your loans.

Piirroskuva talosta

FlexiPayment

Adjust your monthly loan payment as needed with FlexiPayment. Use it to decrease or increase your monthly payment whenever you want.

Read more about FlexiPayment

Student loan repayment schedule

The repayment of your student loan will begin 1.5–2 years after your graduation. The repayment schedule is tailored to your needs, taking into account your repayment ability.

Read more about the repayment of student loans

Need help?

Personal customers