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FlexiPayment for your holiday home loan as well

You can adjust your monthly payment in Nordea Mobile and Netbank.

Repayment period of up to 30 years

Together we can prepare a repayment schedule that suits your finances.

Unsecured loan also available

If you need to renovate your holiday home, one good option to consider would be FlexiCredit.

The most flexible holiday home loan on the market

Our holiday home loan is similar to a home loan. You can apply for it in Nordea Mobile or Netbank, and you can negotiate with us on the loan either online or in branch.

Buying a holiday home is also similar to buying an ordinary home. Once you’ve notified us that you’ve found the right property, we’ll call you on the next banking day at the latest.

Our holiday home loan is also flexible, thanks to the same unique FlexiPayment feature as in our home loans. You can use this feature to decrease or increase individual monthly payments free of charge and without having to ask us first. You can add more flexibility by negotiating with us on instalment-free months at the beginning of the loan period.  

Use our loan calculator to estimate the monthly payment on a holiday home loan

Try our loan calculator and apply for a holiday home loan

How to move from loan application to closing the transaction

Down payment and collateral on a holiday home loan

The holiday home itself is placed as collateral for the loan. But you still need some savings or other collateral to complete the transaction.

The collateral value of a holiday home is usually 75% of its market value, which means you need to pay 25% of the cost from your personal savings or to provide other collateral to cover the remaining part of the loan. Market value means the price at which the holiday home is sold.

Contrary to home loans, an OwnGuarantee or state guarantee is not accepted as collateral for a holiday home loan.

Read more about collateral

Unsecured loan for a minor holiday home renovation

If you plan to spruce up or make minor repairs to your holiday home, the best option might be to pay for it using our unsecured FlexiCredit. You can use it to finance a paint job, wallpapering or new home appliances, for example.

You don't need any collateral to apply for FlexiCredit and you can use it to pay for a single major purchase or many smaller ones.

With FlexiCredit, you can borrow between 2,000 and 50,000 euros with a repayment period of 1–8 years.

Read more about FlexiCredit

Apply for FlexiCredit

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Interest rate and margin
Loan costs
Terms and conditions

Holiday home loan interest rate and margin

The interest rate on a holiday home loan consists of the margin and the reference rate, such as the 12-month or 3-month Euribor.

The loan margin is determined for each customer individually in the loan negotiations. A holiday 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). 

Read more about Euribor rates and other reference rates

Example of a loan and the annual percentage rate of charge (APR)

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. 

Holiday home loans are subject to the same costs as ordinary home loans

Common fees on home loans

ItemPrice

Arrangement fee*

0,4% but at least 300 €
Increased arrangement fee for a loan with a third-party pledge or guarantee
The increase is not applied to interest-subsidised ASP loans		100,00 €
Partial drawdown30,00 €
Automatic debiting of repayments of loans drawn down before 1 February 2021, per debit2,30 €
Automatic debiting of repayments of loans drawn down after 31 January 2021, per debit
2,50 €

Adding FlexiPayment to a home loan in Norden Mobile or Netbank
(Adding FlexiPayment to an existing home loan always requires automatic debiting of loan payments, which is subject to a fee in accordance with our tariff)

0,00 €

Adding FlexiPayment to a new home loan by an employee at a branch or by phone/with a message through Nordea Customer Service

0,00 €
Adding FlexiPayment to an existing home loan by an employee at a branch or by phone/with a message through Nordea Customer Service
(Adding FlexiPayment to an existing home loan always requires automatic debiting of loan payments, which is subject to a fee in accordance with our tariff)
250,00 €
Advance notice of loan debiting by letter or through Netbank0,00 €
Loan payment, paper invoice4,10 €
Payment reminder to the borrower, guarantor or third-party pledger (per reminder)5,00 €
Change to repayment schedule in Nordea Mobile or Netbank150,00 € 
Change to repayment schedule by an employee at a branch or by phone/with a message through Nordea Customer Service250,00 €
Change to due date or loan servicing account in Nordea Mobile or Netbank (minor change to repayment schedule)
0,00 €
Change to due date or loan servicing account at a branch or by phone/with a message through Nordea Customer Service (minor change to repayment schedule)
50,00 €
Change of borrower or a situation where one of the borrowers assumes liability for the loan alone. **200,00 €
Change to interest rate in Nordea Mobile or Netbank250,00 €
Change to interest rate by an employee at a branch or by phone/with a message through Nordea Customer Service300,00 €
Change to margin by an employee at a branch or by phone/with a message through Nordea Customer Service250,00 €
Obtaining a guarantor’s or pledge owner’s consent to change the loan terms and conditions, such as the repayment schedule or reference rate35,00 €
Transfer of a loan to another bank upon the customer’s request. Charged to the receiving bank. **150,00 €
Sending of a loan document and collateral to another bank. 50,00 €
Certificate requested by the customer stating the amount of debt and paid interest10,00 €

Sending of a share certificate to the customer at the customer’s request after it has been digitised

50,00 €
Handling fee for a home transaction if no loan is taken from Nordea or if the transaction is closed at the seller’s bank250,00 €

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

ItemPrice
Payment reminder to the borrower, guarantor or third-party pledger (per reminder)5,00 €
Transfer of a loan to another bank upon the customer’s request. Charged to the receiving bank. **150,00 €
Certificate requested by the customer stating the amount of debt and paid interest10,00 €
*) An arrangement fee is charged in connection with the first drawdown and with a raise or renewal of a loan. 
**) Does not apply to loans intermediated from government funds.
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

Laskin ja prosentti-merkki kuvun alla

What should you know about Euribor rates?

Our experts Chief Analyst Jan von Gerich and Jussi Pajala, CEO of Nordea Mortgage Bank, know Euribor rates in and out and tell you what you need to know about them.

Read what our experts say about Euribor rates

Lainat ja luotot - hae lainaa Nordeasta

FlexiCredit

FlexiCredit an unsecured credit facility available from 2,000 euros to 50,000 euros.

Read more about FlexiCredit

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