Mortgage deeds are now electronic

Do you own a property, such as a detached house or a summer cottage?

Since the beginning of June 2017, new mortgage deeds have been issued in an electronic format. An electronic mortgage deed consist of a record in the public title and mortgage register and it supplants the printed mortgage deed.

As of 2020, only electronic mortgage deed will be accepted as security for a new loan. However, you should not destroy any printed mortgage deeds that you have in your possession. If you are pledging your mortgage deeds as a security for a bank loan, we will get the new mortgage deeds for you. If your already own a property, you can get the electronic mortgage deeds yourself from Nation Land Survey of Finland's Property Transactions ServiceOpens new window. If the mortgage deed are are pledged as security for your loan with Nordea, please record Nordea as recipient on the electronic mortgage deed as follows.

Nordea Bank Abp, business ID 2858394-9

If you have pledged your property as security for a bank loan, its printed deed have most probably already been converted in to electronic ones. The recipient on the electronic mortgage deed indicates who has the right to assign the deed to another party. The recipient may be one or several property owners, or a bank. If mortgage deed is pledged as security for a bank loan, the bank is recorded as the recipient of the deed.

Property pledged as loan security

  • When a property is pledged as security for a loan (i.e. mortgaged), a mortgage deed is issued as proof of this.
  • A mortgage can be placed on a property, such as premises or plot of land, a certain percentage of it, or a certain area within the property that belongs to someone other than the property owner. A leasehold may also be mortgaged under certain conditions.
  • An electronic record is made of a confirmed mortgage in the public title and mortgage register.
  • A mortgage can be applied for by the property owner or leaseholder
  • and it is valid until further notice.