Financing your purchase
Mortgages and housing loans in Finland
The mortgage market in Finland is not huge by any means, so you should seek advice from banks or mortgage companies regarding your finance options.
Mortgages and housing loans are the most common options for house buyers in Finland.
Mortgages in Finland
Specialist mortgage companies in Finland are available to assist you with your mortgage. You can generally take out a mortgage up to 75% of the value of the property and payback terms are relatively flexible. The average payback period is 20 years, often at a fixed rate.
Housing loans in Finland
Banks in Finland offer an option similar to a mortgage in the form of a housing loan. These loans typically cover 70% of the value of the property, with the rest being paid in cash.
You should consult a range of local banks to find the best rates and repayment conditions. Much depends on the bank itself and the current state of the housing market, as well as your credit history.
In terms of repayment, the typical payback period is around 20 years. Average interest rates on housing loans have been between 3.5 and 3.8% since the turn of the century.
An advantage of taking out a housing loan in Finland is that you can qualify for reduced income taxes.
- Blinklist
- Bloglines
- Del.icio.us
- Digg
- Diigo
- Mr.Wong
- Netvouz
- StumbleUpon
- Technorati
- Yahoo
Also in this section
- Introduction: The Finnish property market
- What to look for: Types of property in Finland
- Where to look: Finding property in Finland
- Buying property in Finland: The purchasing process
- Financing your purchase: Mortgages and housing loans in Finland