Green mortgage
An extra 0.10 percentage point mortgage interest discount for borrowers with an energy class A home.
Sparbanken Nord lends against your home and deducts 10 basis points (0.10 percentage points) from the individual mortgage rate it agrees with you. The reduction applies to all mortgages linked to the qualifying home and starts when the bank registers it.
For a three-month interest period, the green discount expires when your ordinary rate discount expires. For a fixed interest period of 1–10 years, it lasts until that period ends. Apply again at renewal: the home must meet the criteria then in force. A declaration expiring during the agreed interest period does not end that period's discount.
You repay the borrowed money with interest. Amortisation pays down the loan principal; interest is the cost of borrowing. The bank's published example has monthly payments with no setup or notification fee, but a paper invoice costs SEK 45. It also warns that currency changes can affect payments if, for example, your income is in a different currency from the loan.
Eligibility
- This entry covers homes with a valid energy declaration showing class A, issued on or after 1 January 2014. Class A is accepted across the bank's declaration-date categories. For a bostadsrätt (a home held through a housing cooperative), ask the association for the building's energy classification. A qualifying holiday home can also receive the discount.
- You can apply with a new mortgage, a mortgage transferred to Sparbanken Nord or an existing mortgage there. The home must be pledged as security. The bank assesses your repayment capacity through a UC credit check and must approve the home as security; the information used for the loan promise must remain accurate and unchanged at disbursement.
- When buying a new home, you can borrow up to 90% of its value and must provide at least a 10% deposit. Your actual rate is personal and depends on the home, loan-to-value ratio, household income, debts, savings, amortisation and relationship with the bank.
- Annual amortisation is at least 2% of the total loan amount above 70% of the home's value, and at least 1% above 50% up to 70%. At 50% or less it is optional under these rules. Your mortgage terms determine your repayment plan. The minimum amortisation period is 10 years, but you can repay faster through extra payments by contacting the bank.
- The bank can assess temporary amortisation relief individually if increased costs or reduced income make repayment difficult. For mortgages taken after 1 June 2016, the value used to calculate amortisation is normally locked for five years; after that, revaluation can allow a review. Earlier revaluation may be possible after a substantial value change unrelated to general price rises, for example extensive remodelling or an extension. A kitchen or bathroom renovation alone, or adding a balcony, does not count as a substantial value change. Existing borrowers with the former extra 1% income-based requirement can apply to remove it, subject to individual approval.
How to apply
- Status
- Open continuously
For a new home purchase, start with a loan promise. Apply for the mortgage before signing the purchase contract so Sparbanken Nord can assess the home. Use the bank's mortgage application page; to discuss a transfer, call 0771-23 00 23 or visit a bank office.
After taking possession and receiving the mortgage at your individual rate, submit the green mortgage interest form in the internetbank. Reply to the bank's subsequent message with a valid certificate. Existing mortgage customers use the same form and reply process. One borrower can submit the discount application; every borrower does not need to sign it. Apply again when the rate discount or fixed interest period expires.