Mortgages in Finland
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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 | |
| 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 | |
| Compulsory propertyinsurance | Varies by insurancecompany, property typeand other factors |
| Mortgage arrangement fee |
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Property buying guide for Finland
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