Mortgage

Arion Bank offers mortgages with terms of up to 40 years, lending up to 80% of the market value of the property.

Mortgages

Arion Bank offers mortgages with terms of up to 40 years, lending up to 80% of the market value of the property.

The loan is split into two parts. The first part can be up to 70% of the real estate valuation. The second part can bridge the gap up to 80% of the market value.

Arion Bank offers both inflation-indexed and non-indexed mortgages. It is also possible to have a mixture of these two types of loan

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Inflation-indexed loans

Inflation-indexed loans have lower repayments but it takes longer to repay the loan in full. Inflation is added to the principal and spread out over the loan period. You can choose three types of inflation-indexed loans: loans with fixed interest throughout the loan period, loans with fixed interest for five years or loans with variable interest.

Non-indexed

Ideal for people who want to pay off their loans more quickly and avoid the cost of inflation accumulating on the principa. Repayments are generally higher to begin with than inflation-indexed loans. You can choose between variable or fixed interest rates. Fixed interest is for a term of three or five years and after that the loans bear variable interest for inflation-indexed or non-indexed mortgages as per the Bank's interest rate table

Mixed

Repayments on inflation-indexed loans are generally lower during the first part of the loan period, unlike non-indexed loans By splitting the loan into inflation-indexed and non-indexed, the repayments become more even over the loan period Mixed mortgages have terms of up to 40 years Interest on the non-indexed part of the loan can be variable or fixed for three or five years Fixed interest is for a term of three or five years and after that you pay variable interest for inflation-indexed or non-indexed mortgages as per the Bank's interest rate table

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Við fyrstu fasteignakaup er lántökugjald fellt niður. Þar að auki hækkar hámarkslánshlutfall úr 80% í 85% fyrir þann hluta af markaðsvirði eignar sem er undir 40.000.000 kr. en að lágmarki fjórðungshluti lánsins verður að vera óverðtryggður.