We offer house builders comprehensive financing for construction projects, from land purchase until the property is fully built. Up to the weathertight stage, an unindexed short-term loan is provided, but at construction stage 2 (weathertight building), the property becomes eligible for mortgage loans, and subsequently in phases as the construction stage increases. A mortgage is taken on the property in the form of a security deed.
When a property is fully built and has reached construction stage 4, a loan of up to 80% of the construction cost or market value can be obtained, whichever is lower. Loans are only granted at first mortgage priority. Each application is reviewed individually before it is approved. If the loan amount exceeds 70 million ISK, additional requirements apply.
How do I apply?
Before getting started, it is a good idea to assess your situation by going through a payment assessment. If you are interested in learning more, you can send us a message at ibudalan@arionbanki.is or book an appointment with an advisor.