Green mortgage
A mortgage with a lower interest rate for buying or refinancing your primary home with documented energy class A or B.
Esta oportunidad está disponible actualmente en inglés.
Sparebanken Norge lends money to buy an energy-efficient home or refinance its existing mortgage. Your home secures the loan, and you repay the borrowed money with interest and fees. The bank’s general mortgage guidance gives a normal repayment term of up to 30 years, with interest and principal payments throughout the term.
The advertised nominal interest rate starts at 5.49% for loans within 90% of the home’s market value. The bank’s example is a NOK 2 million loan over 25 years: a 5.71% effective annual rate, a NOK 3,590 arrangement fee and a NOK 69 instalment fee, with NOK 3,704,478 repaid in total. This is an example; your rate depends on the share of the property value you borrow, loan size and your customer relationship with the bank.
Eligibility
- The home must be your primary residence, where you live yourself. Holiday homes and secondary homes do not qualify.
- The home must have documented energy class A or B. Show the rating with an energy certificate, valuation, an Eiendomsverdi printout or a sales prospectus containing the energy certificate. The documentation must concern the home in your application; a bank adviser assesses whether it qualifies.
- The bank assesses your income, debt, age and the home’s value. Its general rule is lending up to five times your gross annual income, and it checks that you could cope with an interest-rate increase of at least three percentage points.
- You normally need to contribute money or property value of your own, called equity, equal to at least 10% of the purchase price. This can come from savings, inheritance, gifts or value in another property. Some young first-time buyers may borrow with less equity if they have a good ability to repay. The advertised green-mortgage pricing applies to loans within 90% of market value.
How to apply
- Estado
- Abierto continuamente
- Condiciones de la convocatoria
- Purchase or refinance your primary home with documented energy class A or B.
Apply through Sparebanken Norge’s green-mortgage application when buying or refinancing. An adviser checks the home against the energy requirements. Have information about the home, your income and other loans, along with evidence of its energy class.
You can also contact a bank adviser; the bank’s mortgage guidance allows you to move a mortgage through a digital application or by telephone.