Property buying guide for Finland
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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.

Maximum LTV ratio 75%
Fixed rates 1-2%per annum
Loan term Up to 35 years
Minimum age of borrower 18
Maximum percentage of monthlyincome for mortgage 30%

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.

Property appraisaland Due Diligence €250-300
Compulsory propertyinsurance Varies by insurancecompany, property typeand other factors
Borrower's life insurance (optional)
Mortgage arrangement fee 0.4% of the loan amount(min. €300)
Property buying guide for Finland
Article 3 of 5
Tranio’s managers offer advice on buying real estate in Finland
Anna Boyarchukova
Anna Boyarchukova
Real Estate Expert Tranio in Finland
+44 17 4822 0039
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