Mortgages in Finland
Specialist mortgage companies in Finland are available to assist you with your mortgage. You can generally take out a mortgage up to 75% of the value of the property and payback terms are relatively flexible. The average payback period is 20-25 years, often at a fixed rate.
Housing loans in Finland
Banks in Finland offer an option similar to a mortgage in the form of a housing loan. These loans typically cover 70% of the value of the property, with the rest being paid in cash.
You should consult a range of local banks to find the best rates and repayment conditions. Much depends on the bank itself and the current state of the housing market, as well as your credit history.
In terms of repayment, the typical payback period is around 20 years. Average interest rates on housing loans have been really low over the past years, dropping below 1%, but the rates can rise at any moment so be careful when negotiating the loan conditions with your bank.
An advantage of taking out a housing loan in Finland is that you can qualify for reduced income taxes.