Green mortgage for buying an energy-efficient home
Borrow to buy a home with energy rating A or B, with a green mortgage covering up to 75% of its value.
Askim & Spydeberg Sparebank lends money toward buying an energy-efficient home. The home must have energy rating A or B; these ratings identify more energy-efficient homes. You repay the borrowed money with interest and fees.
The published nominal interest rate starts at 5.50%. The bank sets a variable rate after assessing your finances, own funds and borrowing against the home; your rate can be higher or lower than the indicative listed price. Its example uses NOK 2 million over 25 years at 5.73% effective interest, with NOK 3,715,281 payable in total. The effective rate reflects the overall borrowing cost, and the example is not a guaranteed offer.
Published charges are an establishment fee from NOK 2,500, a security administration fee from NOK 2,500, NOK 70 per instalment and NOK 545 for registration. Changing the loan costs NOK 400; changing security priority or releasing pledged security costs NOK 750.
If you have this green mortgage and buy Frende home insurance, the bank also offers a 10% green discount on that insurance.
Eligibility
- Buy a home with energy rating A or B. Provide an appraisal, purchase contract or energy certificate. You can find the energy rating in the property prospectus or advertisement.
- The loan can cover no more than 75% of the home’s value. This is the green mortgage’s specific borrowing limit.
- The bank assesses your income, regular expenses and existing debt to check that you can repay the loan. You must have paid your bills on time and have no adverse payment records.
- The bank’s general mortgage guidance normally requires at least 10% of the purchase price in your own funds. If you lack sufficient own funds, the bank’s general guidance describes a guarantor providing security in their property or a co-borrower helping strengthen your finances. Both take on financial obligations if you cannot repay. The green mortgage’s separate 75% borrowing limit still applies.
How to apply
- Status
- Open continuously
- Round restrictions
- Subject to the bank’s credit assessment.
Start Askim & Spydeberg Sparebank’s online loan application and choose “Lån til kjøp av bolig” (loan to buy a home), then continue. The green mortgage requires the property’s energy-rating documentation.
The bank needs income, debt and asset information for its credit assessment. You may consent to it obtaining tax and income documents through Altinn, or provide the required documents yourself if you decline consent.