Eiendomsfinans AS

Senior loan

Pay kr. 0, - the rest of your life!

Interest from nom. 4,45 %, eff. 4,57 %, kr. 1 000 000,- over 15 years, total: kr. 1 954 819

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What is senior loan?

Senior Loan is a loan product for you over 60 years of age and has saved up capital in your home. You use senior loan to what you want. What about giving children the advances of inheritance, building a cabin, brushing up the house, taking the dream vacation you've always wanted, or simply ceasing to pay off your existing debt?

  • You can get the loan paid as a lump sum or as a monthly payment, alternatively as a combination.
  • You do not pay interest or deductions for as long as you live in the home.
  • The interest rates are monthly added to the loan.
  • You keep the ownership of the home.
  • If the value of the property is lower than the loan at maturity, it is the bank that covers the loss

 

  • You can terminate your loan at any time.
  • Senior loan must be repaid first by permanent relocation from the home (eg when moving to a nursing home) or death.
  • You can deduct accrued interest expenses annually in the tax return and receive an additional tax benefit.

 

  • Senior loan can not be combined with other debt securities in the home.
  • Income does not matter.
  • How much you can borrow with senior lån depends on your age, as well as the value and location of the property.