Mortgage loan

There's no place like home!

Start with a consultation about the home loan if you’re thinking about new home or serious renovation and you need a loan.

Mortgage loan at Swedbank:

  • 4 bargains on home purchase;
  • Repayable within up to 30 years.

Borrow responsibly by assessing your loan repayment capabilities!

If you want to buy or build a home, opt for the home purchase loan.

Purchase amount
Term
Monthly payment
0EUR
Downpayment
0EUR
Amount financed
0EUR
Guarantor's / co-borrower's application

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. Basis for the calculation

Terms of the loan:

  • Regular monthly income
  • Extent - up to 85% of the property's market value
  • Repayment period - up to 30 years
  • Collateral - real estate
  • Loan disbursement fee - up to 1.5% of the loan amount (min. 71 EUR)
  • Requirements for a home construction loan: an estimate and a building permission. The loan is issued in installments. Before each part of the loan is issued a Swedbank representative examines the construction object.

Steps towards receiving the loan

  1. Fill out the application and submit the documents
  2. The bank decides on granting the loan
  3. Sign the loan agreement
  4. Sign the documents before a notary and register the property with the Land Registry
  5. Deliver the documents to the bank and receive the loan

If you have at least one minor child who lives with you and you're planning to buy or build a home, apply for a loan with state support.

Purchase amount
Term
Monthly payment
0EUR
Downpayment
0EUR
Amount financed
0EUR
Guarantor's / co-borrower's application

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. Basis for the calculation

The size of the guarantee depends on the number of children in the family.

  1. If there is 1 minor child in the family, the guarantee is 10% but not more than 10,000 EUR
  2. If there is 2 minor children in the family, the guarantee is 15% but not more than 15,000 EUR
  3. If there is 3 or more minor children in the family, the guarantee is 20% but not more than 20,000 EUR

Terms of the loan

  • Regular monthly income from
  • Positive credit history
  • Extent - up to 95% of the property's market value
  • Repayment period - up to 30 years
  • Collateral - the real estate being purchased
  • ALTUM fee for granting guarantee - 2.5% of the size of the guarantee (1% in case of amendments to agreement)
  • Requirements for a home construction loan: an estimate and a building permission. The loan is issued in installments. Before each part of the loan is issued a Swedbank representative examines the construction object.

Steps towards receiving the loan

  1. Fill out the application and submit the required documents
  2. The bank decides on granting the loan and notifies ALTUM
  3. ALTUM decides on granting the guarantee
  4. Pay ALTUM fee of 2.5% of the amount of the guarantee
  5. Sign agreement with the bank
  6. ALTUM prepares guarantee agreement for the bank

If you have ambitious plans - studies abroad, refurbishment or any other goal, we can help you materialize them through the home equity loan. Ownership of a real estate is the main precondition to receiving this loan.

Amount
Term
Monthly payment
0EUR
Downpayment
0EUR
Amount financed
0EUR
Guarantor's / co-borrower's application

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. Basis for the calculation

Terms of the loan:

  • Regular monthly income
  • Extent - up to 85% of the property's market value
  • Repayment period - up to 20 years
  • Collateral - real estate
  • Loan disbursement fee - up to 1.5% of the loan amount (min. 71 EUR)
  • Repayment period - up to 20 years (if the purpose of the loan is real estate purchase, then the repayment period is up to 30 years)

Steps towards receiving the loan

  1. Fill out the application and submit the documents
  2. The bank decides on granting the loan
  3. Sign the loan agreement
  4. Sign the documents before a notary and register the property with the Land Registry
  5. Deliver the documents to the bank and receive the loan

  • How can I modify the terms of my credit, repay part of the loan or increase the loan amount?

    All changes in an existing loan can be requested via Swedbank Internet Banking.

    • If you want to change the date of payment, switch the loan servicing account or repay part of the principal, select the relevant credit agreement on the Internet Banking site under “Loans, leases, credit cards” -> “My obligations”, click on “Change” and select the new terms of the agreement.
    • If the “Change” option is not available, then request the necessary changes by sending an application to the bank. After receiving your application, a bank employee will contact you to arrange the next steps.
  • May I repay all or some of the loan before the maturity date?

    Yes, it is possible to pay off a loan early in whole or in part. No fee will be charged for repaying the loan. The changes can be requested via Swedbank Internet Banking.

    • If you want to repay all of the loan, first find out the remaining balance of the loan and accrued interest, and make sure you have that amount or more in your Swedbank account. Then, on the Internet Banking site under “Loans, leases, credit cards” -> “My obligations”, choose the relevant credit agreement, click on the “Terminate” button, and follow the instructions.
      If the “Terminate” option is not available, then notify us that you wish to pay off all of the loan by sending an application to the bank.
    • If you want to repay part of the loan, then on the Internet Banking site under “Loans, leases, credit cards” -> “My obligations”choose the relevant credit agreement, click on “Change”button and select the new terms of the agreement. After partially paying off a loan, the new repayment schedule will be available on the Internet Banking site.
      If the “Change” option is not available, notify us that you wish to partially pay off the loan by sending an application to the bank.
  • Where can I see my repayment schedule?

    You can see the repayment schedule on the Swedbank Internet Banking site under "Loans, leases, credit cards" -> "My Obligations".

  • How will monthly payments be made: automatically or will I need to make the transfer myself?

    Monthly payments will be debited automatically from your Swedbank account on a date of your choice.

  • Can I, as a guarantor, make changes in the agreement or receive information about loan payments?

    As a guarantor, you cannot make any changes in the agreement singly - this is possible only together with the borrower. Nevertheless, you can receive information about this loan (for example, about the outstanding balance, amount of monthly payments, interest rate).

  • How to take care of safety during the loan?

    Credit Life Insurance

    When you take out a mortgage loan, you will certainly want to take care of the financial welfare of your family. This makes credit life insurance the best addition for a loan agreement. It is a simple way to safeguard your loved ones against loan repayment should anything happen to you. In such an event the loan will be repaid by insurance company instead of your family.

    Real Estate Insurance

    In order for you to feel safe in your new home, it's important to take care of home insurance for unexpected events. Swedbank Home Insurance provides insurance cover for your home.

    It's a well-thought-out property insurance that offers great value and combines real estate, home contents and liability insurance.

    • Real estate insurance will protect your apartment, house and other structures and auxiliary buildings.
    • Home contents insurance will give you peace of mind about your possessions located within the property, such as clothing, furniture, electrical facilities, valuables, artworks and other valuable day-to-day items. What's more, with home contents insurance you don't need to itemize your belongings - you only need to choose the amount at which to insure the home contents.
    • Liability insurance will be useful in case you accidentally cause loss to neighbours or passers-by.
    • For your convenience, Swedbank insurance payments are made on the same day as the monthly loan payments.
  • How to tackle loan repayment difficulties?

    • Changing the date of your loan repayments. This could be the right solution in case of change in the date on which you receive your salary, benefits or other income.
    • Loan holiday or postponement of principal repayments which, for a certain time period, allow you to only pay interest on the loan amount.
    • Temporary postponement of payments with additional finance made available for covering interest payments. During such a period, the customer will have neither loan principal repayments, nor interest payments. This will take your mind off loan payments during time when you are, for example, looking for a new job.
    • Extension of the loan repayment period which reduces monthly payments if you know that the financial situation is unlikely to improve anytime soon.
    • Find out more about the solutions here.
Service Price, EUR
Receiving
Loan application processing Apply for via Internet Banking Free of charge
Setting up and disbursement of credit Best value via Internet Banking 1% - 1.5%
(min. 71.00)
Setting up and issuing the loan if secured by a term deposit 0.5%
Determining the market value of the property 71.00 - 170.00
Assessing and approving a property's reconstruction or construction cost estimate 55.00
Assessing and approving a property's refurbishment cost estimate 35.00
Approval of the determined market value of residential property 30.00
Courier service for delivery of documents to Riga City or Riga District Land Register for mortgage registration 35.00
Using
Interest rate Set on case-to-case basis
Interest rate for a loan secured by term deposit 2%
Change of date of monthly payments Best value via Internet Banking 14.00 - 21.00
"Standard changes in loan agreements(disbursement of additional amount, change in currency, change in interest rate, change in repayment schedule, extension/shortening of repayment period) Best value via Internet Banking 0.75% - 1%
Other changes in the loan agreement Best value via Internet Banking 14.00 - 21.00
Inspection of the real estate 50.00 - 75.00
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.
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
Document processing fee in case of re-financing the loan to other credit institution 426.00

Effective from 01.10.2016

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