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FlexiPayment

 Adjust your monthly payment in Nordea Mobile or Netbank.

Afford a new home with a small amount saved

Your savings will need to cover 10% of the right-of-occupancy fee.

Loyalty discounts

Access all the benefits available to our home loan customers.

Living in a right-of-occupancy home has many benefits

Right-of-occupancy is a cross between owning and renting a home. When you buy a right-of-occupancy home, you buy a right to live in an apartment owned by a right-of-occupancy company. You have the right to control the home in the same way as you would control a home you own even though you don’t actually own the right-of-occupancy home. You will also need less savings and a smaller loan to buy a right-of-occupancy home than you would to buy a regular home. 

You can live in a right-of-occupancy home as long as you want, and you don’t need to worry about selling it. When you give up the home, you will get the right-of-occupancy fee back, adjusted with the building cost index.

Costs of right-of-occupancy homes

  • You will pay a right-of-occupancy fee, which is typically 15% of the original acquisition price of the home. The fee depends on the condition and location of the home. For a one-bedroom apartment, it usually ranges between 10,000 and 45,000 euros.
  • Your own savings must cover at least 10% of the right-of-occupancy fee. You can apply for a home loan to cover the rest. The right-of-occupancy fee can be used as collateral for the loan. Depending on the loan amount, you may also need other collateral.
  • When you move into the home, you will pay a security deposit. It usually corresponds to 1 or 2 months’ residence charge. 
  • You will pay a monthly residence charge. The amount of the residence charge varies according to the size and location of the home. 

Our flexible home loan is a perfect fit for right-of-occupancy homes

When you take out a loan for a right-of-occupancy home from us, you will get access to the whole range of benefits we offer to our home loan customers. 

FlexiPayment is a feature that allows you to decrease or increase your monthly loan payments free of charge in Nordea Mobile and Netbank without asking us first.

You will get valuable perks if you take out a home loan from us and choose us for all your banking needs. For example, you will get our daily banking services free of charge when you have an account and a payment card with us and use our Nordea Mobile app.

Read more about our benefits for home loan customers

How to apply for a right-of-occupancy home loan 

You should apply for a home loan to cover the right-of-occupancy fee well in advance before you submit your apartment application. You will get a preliminary loan offer from us quickly. The offer contains the details of the loan amount and margin we can offer you.

Fill in our home loan application online and select that you want to apply for a loan to buy a right-of-occupancy home. Once we have processed your application, we will contact you and book a meeting with you. At the meeting, you will get a preliminary loan offer from us. 

You should apply for a loan at the latest when you are informed that the right-of-occupancy home is reserved for you. 

You will need collateral for a right-of-occupancy home loan

You will need collateral to take out a loan for a right-of-occupancy home just like in regular home loans. The right-of-occupancy agreement can be used as collateral up to 75%. If you need to borrow more, you will need to cover the rest with additional collateral. 

Additional collateral can consist of deposits, investments or other assets, for example.

You can also buy our OwnGuarantee. It’s an easy and affordable way to obtain the additional collateral required for a loan.

Read more about collateral for a home loan

Learn more about our OwnGuarantee

Frequently asked questions about right-of-occupancy homes

Terms and conditions of a home loan
Fees and prices of a home loan

Foreign currency credit

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.

Interest and fees on a home loan

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). 

Read more about Euribor rates

Example of a home loan and the APR

Example calculation: You take out a loan of 161,000 euros. The loan period is 23 years and the interest rate is 2.73% (April 2025). The APR is 2.9%, including an opening fee of 644 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 219,117 euros. The monthly payment (annuity) is 792 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.

Read more about home loan interest

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 Nordea Mobile or Netbank
(Adding FlexiPayment to an existing home loan always requires automatic debiting of loan payments, which is subject to a fee set in 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 set in 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 €
Changing the 12-month Euribor reference rate at the end of the interest rate period and changing the Prime rate in Nordea Mobile and Netbank. Changing the reference rate may also affect the margin of your loan.200,00 €
Change of reference rate at the end of the interest rate period by an employee at a branch or by phone/with a message through Nordea Customer Service. Changing the reference rate may also affect the margin of your loan.300,00 €
Change of reference rate in the middle of the interest rate period by an employee at a branch or by phone/with a message through Nordea Customer Service, Changing the reference rate may also affect the margin of your loan.600,00 €
Change to the 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. Does not apply to loans intermediated from government funds.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 €
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 €

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.

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