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Norway – Property Financing

Mortgages for Foreign Nationals in Norway

When considering purchasing property in Norway, whether you are a local or a foreign national, one of the key questions that may arise is whether local banks or other lenders are willing to issue mortgages to non-Norwegian citizens. Norway is known for its stunning natural landscapes, including fjords and mountains, making it an appealing destination for property investment. The good news is that Norway has a well-established mortgage market that is open to foreign nationals.

Many local lenders in Norway are open to providing mortgages to foreign nationals interested in buying property in the country. While there may be specific requirements and documentation needed, securing a mortgage as a non-resident is generally feasible, making it easier to invest in the Norwegian real estate market.

Local Lenders Offering Mortgages in Norway

When seeking a mortgage for your property purchase in Norway, several local lenders you can explore include:

  • DNB Bank: DNB Bank is one of Norway’s largest and most established banks. They offer a range of mortgage products, including options for foreign nationals. DNB Bank has experience working with non-resident buyers and can assist you in securing financing for your property.
  • SpareBank 1: SpareBank 1 is a well-known Norwegian financial institution that provides mortgage services to foreign nationals as well. They offer various mortgage options with competitive interest rates. SpareBank 1’s online platform simplifies the mortgage application process for non-resident buyers.
  • Nordea Bank: Nordea Bank is another major player in the Norwegian banking sector that offers mortgages to foreign nationals. They have a dedicated team to guide non-resident buyers through the mortgage application process and provide financial advice.

These local lenders have experience working with foreign nationals and can assist you in choosing the right mortgage product for your investment in Norway.

Minimum Deposit Requirements for Property Purchase

One of the essential aspects to consider when buying property in Norway, regardless of your nationality, is the minimum deposit requirement. The deposit, also known as the down payment, is a substantial upfront payment that you must make to secure your property purchase. The specific amount required can vary depending on several factors, including the lender’s policies, the property’s value, and your financial situation.

Typically, local banks and lenders in Norway may require a minimum deposit of around 15% to 40% of the property’s purchase price. However, deposit requirements can vary, so it’s advisable to check with your chosen lender for the most up-to-date information. The deposit serves as a commitment to the property purchase and provides security for the lender.


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Additionally, some developers and real estate agents in Norway may offer financing packages with lower deposit requirements for specific properties or developments. These packages can be appealing to both local and foreign buyers, so it’s worth exploring different options to find the best fit for your financial situation.

Responsibility for Outstanding Debts on the Property

When you become a property owner in Norway, whether you are a local or a foreign national, you take on certain responsibilities, including the potential obligation to address outstanding debts associated with the property. Understanding these responsibilities is essential to a smooth property transaction.

In Norway, property-related debts, such as property taxes, utility bills, or unpaid loans secured against the property, are typically tied to the property itself rather than the previous owner. When you purchase a property, you may inherit these existing financial obligations.

Before the sale is finalized, a legal process takes place to ensure that any outstanding debts related to the property are settled by the seller. The notary or legal representatives involved in the transaction will conduct thorough checks to identify and clear any existing financial liabilities. This process ensures that you take ownership of the property without the burden of unresolved debts.

It’s crucial to engage with experienced legal professionals and seek advice from your lender to ensure that all necessary steps are taken to protect your interests during the property purchase in Norway. A well-informed and diligent approach can help you avoid any unexpected financial obligations and ensure a smooth transition to property ownership.

By being well-prepared, working with reputable local lenders, understanding the deposit requirements, and knowing your responsibilities, foreign nationals can successfully navigate the process of buying property in Norway and make sound investments in this beautiful Scandinavian country.


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