About mortgage loans

Mortgage loan can be granted to a Lithuanian citizen or foreign citizen with residence permits to live and work in Lithuania. Credit recipients – persons age of not less than 18 years.

Mortgage loan period

Mortgage loan can be granted for a period up to 40 years.

Mortgage loan currency

Mortgage loan can be granted in Litas and Euros.

Mortgage loan amount

Mortgage loan in Litas or Euro up to 85% value of collateral (price).

Loan interest

Loan interest consists of the basic interest rate (VILIBOR in case of a Litas loan and EURIBOR in case of a EURO loan) and the margin set by the bank individually for each client.

You may choose:

Variable interest

Variable interest is initially set at entering into the loan agreement and subsequently changed every 3, 6 or 12 months depending on VILIBOR or EURIBOR (in the period selected by you.

Fixed interest

Fixed interest is set either on the loan agreement date or on the loan disbursement date and can be fixed either in EURO for a period of up to 15 years or in Litas for up to 5 years. On expiration of the period, the interest rate is changed into variable basic interest or refixed for a selected period.

Mortgage Loans with an Interest Rate Ceiling

In order to secure your future and not worry for the increase of interest rate in the market, choose a possibility to protect interest rates changes, i.e. set-up the upper limit for the mortgage loan interest rate.

In case of increasing interest rate, mortgage loan interest rate will not go higher than the set the upper limit and in the case of dropping interest rate, the monthly payments will decrease, because the mortgage loan floor limit is not imposed.

After setting an upper interest rate limit for the mortgage loan at Nordea:

• feel confident and secure because the loan interest within the period set will not exceed the fixed ceiling;
• knowing the highest interest rate, which you may have to pay irrespective of the growth of reference interest rates, you can better plan and manage your expenses;
• in case of decreasing the interest rate, you will never overpay, because the floor limit is not imposed.

The main credit conditions:

• fluctuation margins of an interest rate are set for a are set for 3, 4 or 5 period. After the end of the period a variable interest rate will be applied, unless the a new agreement on capped loan interest rate with the bank will be signed;
• the interest rate cap is applicable to both those who are taking new mortgage loans in euros, and those who have already signed credit agreements under the determinate order, if the loan amount will be withdrawn on the effective day;
• Capped loan’s interest rates fee is applied once, which is paid on the day of signing this agreement;
• Upon your request we can offer consumer loan to cover the fee or include the fee in to home loan amount.

Chosen mortgage loan with an interest rate cap (example):

Mortgage loan repayment

 

Linear method

• The loan is repaid in equal instalments and the interest is paid for the outstanding loan amount

Annuity method

• The loan and interest are paid in equal instalments each month
• Loan repayment may be postponed for a period of up to two years upon the Banks decision.

Deferment of loan repayment

Loan repayment may be deferred for the period of up to 24 months. The deferment period shall be counted as of the first day of payment. Deferment of loan repayment may be applicable either at the beginning of loan repayment or later (for instance, after lapse of several months from the date of credit extension). In individual cases, the deferment period may be extended up to 60 months. In such case, a reasoned application for deferment of loan repayment deadline shall be submitted to the bank. Loan repayment and payment of interest shall be due each month (on the day instructed by the bank) in accordance with the loan repayment and interest payment schedule.

For more information please telephone 1554,
+370 5 2361 361