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ALTUM support programmes

Home with support from ALTUM

ALTUM offers several state aid programmes:

  • for families with children
  • for young professionals
  • programme “Balsts”
  • Guarantee for NBS soldiers

News! Increased support for families with children in the regions, reduced fees for young professionals and expanded opportunities in the Balsts grant programme. The process of re-obtaining a guarantee has been made easier for all guarantee programmes.

Altum calculator

The minimum amount is 20000 EUR. input-error-label If you’re expecting a baby or already have at least one child of up to 23 years of age in your custody who lives with you. Regions: outside Riga, outside area surrounding Riga (Mārupe, Ķekava, Olaine, Salaspils, Ropaži, Ādaži counties) and outside Jūrmala. %
With Altum

Home loan with ALTUM support

Home loan without ALTUM support
Loan amount
Altum guarantee amount -
Required own investment
Programme “Support”
You may qualify for an additional grant of {0} EUR
 -
Nearly zero-energy building -
Monthly payment 0 0
Altum’s fee for granting 0 -
Monthly fee for credit guarantee from Altum The fee will be charged automatically on a quarterly basis starting with the second year of using the guarantee. The fee is calculated from the remaining amount of the guarantee until the guarantee is terminated (a maximum of 10 years) 0 -
Land Register’s stamp duty for ownership registration 0 0

The data provided by the calculator is for information only, however it gives you an idea of what could be the size of your monthly payments for the mortgage loan.

If you are expecting or if you already have at least one dependent child under the age of 23 living who lives with you, and you are planning to purchase or build a home for up to EUR 300,000, you can apply for a loan with state aid.

  1. The amount of the guarantee depends on the number of children in the family, including ones soon to be born and the location of the property.

  2. If the family

    • has 1 child (or is expecting their first), the guarantee is 5-10%, but no more than 10,000 EUR, or 5-30% but no more than 30,000 EUR if the property is located in a region*;
    • has 2 children (or 1 + expecting another), the guarantee is 5-15%, but no more than 15,000 EUR, or 5-40% but no more than 40,000 EUR if the property is located in a region*;
    • has 3 children (or 2 + expecting another), the guarantee is 5-20%, but no more than 20,000 EUR, or 5-50% but no more than 50,000 EUR if the property is located in a region*;
    • has 4 children (or 3 + expecting another), the guarantee is 5-30%, but no more than 30,000 EUR, or 5-50% but no more than 50,000 EUR if the property is located in a region*.

    * outside Riga, outside area surrounding Riga (Mārupe, Ķekava, Olaine, Salaspils, Ropaži, Ādaži counties) and outside Jūrmala.

  3. If you are planning to purchase a home with energy efficiency class A or a nearly zero energy home, the guarantee can be increased by 5%.
  4. If you have already previously used an Altum guarantee, you can do so again, provided that the current guarantee has been released.

If you are a young specialist, you can apply for the home guarantee programme and receive co-financing for your home purchase.

  • Eligibility criteria for the guarantee:

    • you hold a professional or higher education diploma
    • you are aged 18-35
  • The guarantee is available for up to 20% of the amount of the loan
  • The guarantee may not exceed EUR 50,000.
  • The usage fee is automatically withheld from the customer’s account once every quarter.

If you have at least three children (or a disabled child) in your family and are planning to buy or build a home, you can get financial support from Altum in the form of grant funding that will not have to be repaid. State funding is available from 8,000 to 12,000 EUR, depending on the size of the family and the energy efficiency class of the home.

  • Families with 3 or more children living in the same home
  • A family with at least one disabled minor child or an adult before the age of 24 with category I or II disability qualifies for support of 8,000 or 10,000 EUR
  • Average income per family member (including children) for the last available taxation year, for which taxes are payable, does not exceed 23,000 EUR (gross)
  • Tax residents of Latvia (for at least the past 12 months)
  • The recipient of support does not own another hoe (house, apartment, summer house)
  • The grant will partially or fully substitute own co-financing. The grant cannot exceed 50% of the purchase price/construction costs (with the total amount of the transaction not exceeding EUR 300,000)

What is the available amount of financing?

Number of children (including, if expecting) Energy efficiency class of the home to be purchased/constructed Maximum amount of grant, EUR
3 Not an almost zero-energy building 8,000
3 Is an almost zero-energy building 10,000
4 or more Not an almost zero-energy building 10,000
4 or more Is an almost zero-energy building 12,000

If you are a professional soldier of the National Armed Forces (NBS)*, apply in the Housing Guarantee Programme and get support for buying a home.

Conditions of the programme:

  • The transaction amount may not exceed 300,000 EUR
  • The guarantee period may be up to 10 years
  • The guarantee amount is up to 25% of the loan principal and not more than 20,000 EUR
  • You can get the guarantee again if the obligations under the guarantee have expired

* Units of the National Armed Forces, the Ministry of Defence or its subordinate institutions where the soldier is serving
  1. Fill out an application and we will let you know what additional documents need to be submitted
  2. The bank takes a decision on issuing the loan and informs ALTUM
  3. ALTUM takes a decision on issuing the guarantee
  4. Pay the ALTUM fee
  5. Sign the loan agreement with the bank
  6. ALTUM drafts a guarantee agreement for the bank

Additional steps for Programme “Support”:

  • In case of purchase — at the time of transferring the purchase amount, the bank transfers these funds as co-financing or as part of it
  • In case of construction — these funds are deposited to the customer’s account in accordance with the conditions of the loan agreement. The grant may be used only for non-cash settlement, and the customer has to report as to the use of the grant.

In addition, NBS soldiers must submit the following documents to the bank:

  • A formal letter from a unit of the National Armed Forces, the Ministry of Defence or its subordinate institutions where the soldier is serving, stating that the customer has a valid professional service contract, issued no earlier than one month before the guarantee application is submitted.
  • Regular monthly income from EUR 850 (with a co-borrower: from EUR 1200)
  • Positive credit history
  • Amount — up to 95% of the market value of the property
  • Term — up to 30 years
  • Collateral — the real estate property purchased or constructed
  • Conditions for construction loan — a cost estimate and construction permit are needed, the loan is issued in instalments; prior to the issue of each instalment, a Swedbank representative performs an on-site inspection

Additional conditions

For young specialists:

  • ALTUM fee for granting the guarantee – according to Altum’s price list but not more than 4.8% of the guarantee amount (1% in case of amendments to the agreement)

For families with children and NBS soldiers:

  • ALTUM fee for issuing guarantee — 2.5% of the amount of the guarantee (1% in case of amending the agreement)
  • The interest rate consists of the 6-month Euribor rate and an individually set margin rate or a 5-year fixed rate. If the Euribor rate is negative, it will be regarded as equivalent to zero.
  • Additional expenses (notary, real estate valuation) and bank fees will apply to your loan.
  • Loan is repayable on the basis of annuity or amortization schedule within the agreed term by pre-determined monthly payments on your chosen payment date.
Mortgage loan interest rates

Fees

Mortgage loans

Service Price, EUR
Receiving
Loan application processing Apply for via Internet Banking Free of charge
Setting up and disbursement of credit 1.2% Loan refinancing from other bank free of charge*
For Gold Service customers - 1% of the loan amount
Appraising residential property’s present market value with/without inspection 100.00 - 230.00 With inspection
- Apartment – 122.00
- Single-family residential house – 230.00
- Land plot for construction – 150.00
Without inspection
- Apartment – 100.00
- Single-family residential house – 210.00
- Land plot for construction – 130.00 		Valuation by Swedbank AS is prepared in abbreviated form and is not suitable for presenting to other credit institutions, and cannot be used for the needs of other individuals or legal entities.
Appraising residential property’s future market value with/without inspection 135.00 - 260.00 With inspection
- Apartment – 155.00
- Single-family residential house – 260.00
Without inspection
- Apartment – 135.00
- Single-family residential house – 240.00
Assessing and approving a property's reconstruction or construction cost estimate 55.00 In case of construction and reconstruction of the property to be valuated - always.
Assessing and approving a property's refurbishment cost estimate 35.00 Upon bank’s request.
External valuation opinion/commentary 20.00
Using
Interest rate Set on case-to-case basis
Interest rate revision 150,00*
Change of date of monthly payments Easier via Internet Banking Free of charge
Other changes in credit agreement 150.00 Depending on the type of changes in the agreement, it may be necessary to determine the market value of the property, for which a fee will be charged according to the Price List.
Changes in credit agreement in case of restructuring 75.00
Assessment of expenditure of funds at the construction site 50.00 - 75.00 If the loan is issued for refurbishment of property - 50.00
If the loan is issued for construction/reconstruction of property - 75.00 		In case of construction and reconstruction - always.
In case of refurbishing - only upon bank's request.
Standard bank certificate (balance of the loan, interest and principal paid, overdues, loan collateral, consents, purpose of the loan) Easier via Internet Banking See Bank certificates, document requests, etc. Unless stated otherwise in the agreement.
Other type of certificates upon request Easier via Internet Banking See Bank certificates, document requests, etc.
Early partial repayment of credit Easier via Internet Banking Free of charge
Closing
Full early repayment of the loan Easier via Internet Banking Free of charge Note that there will be additional costs for notary services.
Document processing fee in case of re-financing the loan to other credit institution Free of charge

Effective from 01.10.2021.

* Valid from 01.12.2024 until 31.12.2025.

Consumer Credit for Home

Service Price, EUR
Receiving
Loan disbursement Easier via Internet Banking 1% of the amount, min. 100.00 The fee is withheld from the amount of loan granted.
Using
Interest rate From 7.9% per annum The interest rate is set for each customer individually and interest accrues on the outstanding amount of the loan.
Change of monthly payment date or the linked account Best value via Internet Banking 0.00 - 7.00 Via Internet Banking - 0.00
At branches - 7.00"
Other changes in the loan agreement Easier via Internet Banking 25.00
Early partial repayment of the credit Easier via Internet Banking Free of charge No fee will be charged if no other changes are made in the consumer credit agreement.
Closing
Full early repayment of the credit Easier via Internet Banking Free of charge

Effective from 18.04.2017.

Favourable % rate!

A loan suitable for energy efficient solutions in your house.

 Agreement fee 0 EUR

For property purchase or renovation of your own property.

Insurance that helps you with loan repayments in case of losing your job or capacity for work.
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“Swedbank” AS
Balasta dambis 15, Riga,
LV-1048, Latvia
BIC/S.W.I.F.T.: HABALV22
Reg. number: 40003074764

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