Local Banks and Mortgages for Foreign Nationals in Finland
Local banks in Finland typically issue mortgages to foreign nationals, but the process may be more difficult as compared to Finnish citizens. Banks may require foreign national to provide additional documentation such as proof of income and financial assets.
The following are some of the local lenders that provide mortgages in Finland:
- Nordea Bank Finland Plc: https://www.nordea.fi/en/personal-customers/home-loans/home-loan/
- Danske Bank: https://www.danskebank.fi/en/private/mortgages/
- OP Financial Group: https://www.op.fi/en/private-customers/loans-and-mortgages/mortgages/
- S-Pankki: https://www.s-pankki.fi/en/home/mortgages/
Deposit when buying a property in Finland
The typical deposit required when buying a property in Finland is around 20-25% of the purchase price. This amount may vary depending on the lender and the type of property.
Responsibility for Outstanding Debts on the Property in Finland
When purchasing a property in Finland, the new property owner is not responsible for outstanding debts on the property if the debts are due to the previous owner. However, if the debts are due to unpaid taxes or utility bills, the new owner is responsible for paying them. It is therefore important to ensure that all outstanding debts have been paid before finalizing the purchase of a property.