Since the terms and conditions of housing company loans are the same for all shareholders, the loan period, repayment method or reference rate may not be ideal for you and your situation.
The charge for financial costs may also rise along the years if interest rates rise or if your housing company makes a renovation, for example.
A personal loan has many advantages compared to a housing company loan.
First contact your property management company to get information on the terms of the housing company loan, the amount of your share and the payment dates.
We have several options for converting a housing company loan into a personal loan. If you have free collateral, you can apply for a personal loan to convert your share in full or in part. We recommend that you contact us well in advance and fill in a loan application.
Once you have sent us your loan application, we will call you and book an appointment for a loan negotiation to discuss the best options for you.
The biggest expenses in a home loan consist of the loan margin you have negotiated and the reference rate you have 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 calculation: You take out a loan of 151,000 euros. The loan period is 23 years and the interest rate is 3.25% (October 2024). The APR is 3.4%, 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 276. The total amount of the loan and loan costs is 216,956 euros. The monthly payment (annuity) is 781 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 APR on the loan that you will be granted. You can check the fees and prices of our home loans from our tariff below.
| Item | Price |
|---|---|
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 drawdown | 30,00 € |
| Automatic debiting of repayments of loans drawn down before 1 February 2021, per debit | 2,30 € |
| Automatic debiting of repayments of loans drawn down after 31 January 2021, per debit
| 2,50 €
|
Adding FlexiPayment to a home loan in Nordea Mobile or Netbank
| 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 set in our tariff) | 250,00 € |
| Advance notice of loan debiting by letter or through Netbank | 0,00 € |
| Loan payment, paper invoice | 4,10 € |
| Payment reminder to the borrower, guarantor or third-party pledger (per reminder) | 5,00 € |
| Change to repayment schedule in Nordea Mobile or Netbank | 150,00 €
|
| Change to repayment schedule by an employee at a branch or by phone/with a message through Nordea Customer Service | 250,00 € |
| 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 Netbank | 250,00 € |
| Change to interest rate by an employee at a branch or by phone/with a message through Nordea Customer Service | 300,00 € |
| Change to the margin by an employee at a branch or by phone/with a message through Nordea Customer Service | 250,00 € |
| Obtaining a guarantor’s or pledge owner’s consent to change the loan terms and conditions, such as the repayment schedule or reference rate | 35,00 € |
| 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. Does not apply to loans intermediated from government funds. | 50,00 € |
| Certificate requested by the customer stating the amount of debt and paid interest | 10,00 € |
| Sending of a share certificate to the customer at the customer’s request after it has been digitised | 50,00 €
|
| Transaction closing with no loan taken or at the seller’s bank (incl. VAT 25.5%) | 300,00 € |
| Transaction closing in branch with a loan taken (incl. VAT 25.5%) | 150,00 € |
| Handling fee for digital closing (incl. VAT 25.5%) | 70,00 € |
| Item | Price |
|---|---|
| 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 interest | 10,00 € |
| *) 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. |
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.
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