Mortgages in Finland

Finland offers favourable mortgage terms to foreign nationals; however, some banks will only provide loans to borrowers with permanent residence permits (pysyvä oleskelulupa) or who have guarantors with Finnish citizenship. It is easiest to obtain a loan if you have a source of income in the country.

Documents

The documents required to obtain a mortgage loan in Finland include:

• valid passport
• proof of income (copies of personal income tax forms for the two previous years)
• pre-sale property contract
• proof of ownership of property in the buyer’s country of permanent residence (if applicable)
• bank documents proving timely payments for any previous loans (if applicable).

Documents must be translated into Finnish and notarised. It can take up to two weeks for a bank to process each mortgage application.

Extra costs

Borrowers also pay for appraisals, mortgage arrangements and annual insurance fees.