Construction projects and vacation homes

Fjölskylda úti í náttúru

What are you look­ing to fin­ance?

Find a fa­vour­able way to fin­ance your prop­erty, pro­ject, new build or va­ca­tion home.

Real estate, vacation home and recreation loans

We extend credit to purchase real estate, vacation homes, stables, building and recreation lots. Interest rates can be either inflation-indexed or non-indexed and the terms depend on the loan-to-value ratio.

Real estate
Up to 70% mortgage for up to 30 years
Vacation homes and stables
Up to 60% mortgage for up to 15 years
Building and recreation lots
Up to 50% mortgage for up to 15 years
Loan-to-value ratio Non-indexed Indexed
0-30%  %interest113% %interest95%
31-50%  %interest114% %interest96%
51-70% %interest115% %interest97%
Viðhald íbúðahúsnæðis

Planning to build?

With construction loans, we bridge the gap the interim “weather-tight” stage and until you’re eligible to get a traditional mortgage. The loan amount increases over the construction period as the line of credit is used to cover cost.

Loan is in the form of an overdraft authorisation and secured on the building
Loan term of up to 12 months at a time
Variable interest rate based on mortgage ratio
Mortgage ratio up to 70% of estimated cost of construction


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