Cookies

By clicking "Allow All", you agree to the use of cookies to enhance website functionality, analyse website usage and assist with marketing.

More on cookies

No in­terest or in­dex­a­tion ac­crues to Grin­davík hous­ing mort­gages for three months

Grindavík
23 November 2023 - Landsbankinn

In response to the uncertainty and natural disaster that has befallen Grindavík, Landsbankinn, Arion Bank and Íslandsbanki, working with the Icelandic Financial Services Association (SFF), have concluded an agreement to cancel interest and indexation on housing mortgages held by inhabitants of Grindavík for a period of three months. An agreement to this effect was announced yesterday evening, 22 November.

By cancelling interest and indexation for three months, we attempt to lighten the burden of our Grindavík customers who are faced with uncertainty about their income, expenses, housing and assets. The agreement between the three banks contributes to equal treatment of borrowers.

The cancellation applies to November and December 2023, and January 2024, and is limited to interest and indexation on total loans in the maximum amount of ISK 50 million. If a borrower has a loan or combined loans of over ISK 50 million, the cancellation is limited to interest and indexation on an ISK 50 million loan.

Part of a holistic solution

Last week, we announced that all our Grindavík customers could apply for six-month payment deferral on their housing mortgages. At the same time, we were working on further solutions, among which is a holistic solution in collaboration with the government, other financial institutions, pension funds and insurers. Cancellation of interest and indexation for a three-month period is part of such a solution which is expected to be presented in more detail in coming days.

Six-month payment deferral on housing mortgages

Payment deferral for a six-month period provides the people of Grindvík with financial leeway, as customers pay no instalments, interest or indexation on their housing mortgages during the period. Deferred interest is added to the loan twelve months after the deferral period begins and does not accrue interest for the first twelve months. The term of loan is extended to reflect the period of payment deferral. Customers can choose to shorten the deferral period at any time.

Applying for payment deferral in Landsbankinn’s app is simple and we have published further instructions here on our website.

Warm welcome

We encourage all Grindavík customers to contact us if they have any questions about these solutions or want to review their finances. You will be warmly received in any of our branches, over the phone or remote meeting.

There is still a great deal of uncertainty about the future. We will continue to monitor developments closely and to support the people of Grindavík in various ways.

You may also be interested in
Landsbankinn
23 May 2025
Landsbankinn changes interest rates
Landsbankinn changes deposit and lending rates and the new interest rate tariff enters into effect on 3 June 2025.
Nasdaq bjalla
16 May 2025
Landsbankinn Corporate Finance advisor to the government in successful Íslandsbanki PO  
Landsbankinn Corporate Finance acted as an independent financial advisor to the Icelandic government and supervised the marketed public offering of the State’s remaining shareholding in Íslandsbanki, a sizeable and well-organised project that garnered significant attention from investors. 
Austurstræti 11
16 May 2025
Austurstræti 11 and Hafnarstræti 10, 12 and 14 for sale
Landsbankinn advertises for sale its buildings at Austurstræti 11 and Hafnarstræti 10, 12 and 14 in Reykjavík. The combined size of the buildings is 5,836 square metres, including 1,380 square metres of basement area. The buildings will be sold as one lot.
Austurbakki
28 April 2025
S&P upgrades Landsbankinn’s credit rating to A-
S&P Global Ratings has today announced an upgrade of Landsbankinn’s long-term credit rating from BBB+ to A-. This is the highest the Bank’s credit rating has been since 2014, when S&P started issuing ratings for the Bank.
16 April 2025
Service over Easter - the app and Ellí are open
Landsbankinn’s branches and service centres will as usual be closed over Easter and open again on Tuesday, 22 April.
9 April 2025
Economic forecast to 2027: Fair outlook yet anything may happen
Landsbankinn Economic Research today published its economic forecast to 2027. Economic Research forecasts 1.4% economic growth this year and 2.1% next year. Rarely has uncertainty been greater and the forecast can be said to hold until further notice. 
8 April 2025
Full house at Landsbankinn on DesignMarch
The atmosphere was exciting and the house packed at Landsbankinn’s DesignMarch event on Friday, 4 April. The event began with a discussion about funding and design, and in the evening, young fashion designers took over the stage.
Fjölskylda úti í náttúru
8 April 2025
Initial authorisation to use supplementary pension savings towards first housing purchase expiring soon
First-time home buyers can use their supplementary pension savings to make tax-free payments towards their mortgage for a 10-year period. Just over 10 years have now passed since the solution was first enacted and, as a result, the authorisation will soon expire for many - if it hasn’t already.
Landsbankinn
27 March 2025
Seyðisfjörður service point moves to Egilsstaðir
The services provided at Landsbankinn’s outlet in Seyðisfjörður will transfer to the Egilsstaðir branch on Friday, 4 April.
HönnunarMars 2025
26 March 2025
Diverse and exciting DesignMarch 2025 at Landsbankinn
Landsbankinn is one of the main sponsors of DesignMarch and an active participant in the festival. We will be hosting exciting events at the Bank’s headquarters in Reykjastræti and videos featuring seven designers will appear on our Youtube channel.