Restart loan
– Refinance payment reminders with security in housing.
- Loans up to 90% of the property’s value
- Combine many loans into one loan
- Avoid forced sale
This is how we help you:
Fill in the application form
It only takes a few minutes and is completely
free and non-binding for you.
We talk to the banks
Your advisor will talk to our partners and find the
best solution for you.
Receive a non-binding offer
Once we've landed the solution we
most believe in, we'll contact you for a
no-obligation quote.
Restart loans - pay down loans with remarks
Restart loans can be suitable for those with payment reminders and debt collection. This can be a solution if you’ve been turned down by traditional banks. The loan is used to pay off loans with payment remarks, debt collection and other debts. It is thus to be regarded as a type of refinancing.
A restart loan allows you to restart your finances with a good chance of being able to repay the loan.
- You can get debt refinanced up to NOK 10 million
- You may have payment notices, debt collection or other types of debt
- You can consolidate and settle the same debt up to 85% of the home’s value (in central areas)
- You get many small loans combined into one loan
Restart loans are a different type of refinancing.
The bank takes a mortgage on your home and gives you a new loan. Even if you’re struggling financially, you can start afresh and get a fresh start with a restart loan.
You must be able to offer collateral for the loan in a property.
It does not have to be collateral in a property you own, it can be with secured creditors.
Eiendomsfinans has worked with restart loans for many years.
We work with all the leading banks on this type of loan.
Feel free to contact us for more information and offers.
Advantages of Omstartslån
In some cases, you have received payment remarks or debt collection on loans or bills. This can be everything from consumer loans to VAT bills, electricity and telephony. If you have a mortgage without remarks, this loan can be left as it is in the current bank. We can then help you collect other expensive debts with payment remarks. This debt and these bills are replaced with one single restart loan. This loan is used to pay off the debt and will then be secured by your home after the mortgage. It is called a 2nd priority mortgage.
The bank that has the mortgage will be able to continue to have a first-priority lien on the property. You therefore do not need to submit your mortgage if it has no objections. In this case, you keep the low mortgage rate on your current loan, but consolidate all your other debts into one loan without remarks.
What is the interest rate on restart loans?
Payment remarks can be a disadvantage when borrowing money. This means that you must provide some form of security in order to be granted the loan, a mortgage. A payment remark indicates that you have had problems paying bills or loans in the past. This increases the risk for the lender. Therefore, they will often charge a higher interest rate on a restart loan.
Norwegian households have seen an increase in debt in recent years, and debt collection has become more common. That’s why there are banks that specialize in offering restart loans to customers with payment remarks or debt collection. These banks can offer alternative solutions for you, but it is wise to compare offers from different banks to find the best start-up loan for you. We can help you with this as we work with all the banks in Norway that offer restart loans.
Read more about annuity loans vs serial loans here →
Conditions Starter loan
- Total debt should not exceed five times total annual gross income.
- Loans can be granted up to 90% of the value of the property, and security deposits can be accepted for any missing equity.
- The bank accepts payment remarks and deletes these when converting to an Omstart loan.
Don't own your own home?
Restart loan with guarantor
Totalbeløp
Kostnad
Etabl.gebyr
Termingebyr
Effektiv rente
We can help you clear up your debts
Through our partnerships with several banks and credit institutions,
we have extensive knowledge of the solutions and products available.
Together we review your financial situation, obtain an overview
of payment reminders and find an optimal solution for you.
Free and quick case management
With us, you will be assigned a permanent advisor who will help you throughout. After
a pleasant conversation with you, we map your financial situation.
FAQ - Frequently asked questions about Omstartslån
What is an Omstart loan?
Restart loans are a type of loan that can help you get back on your feet after a financial crisis. It’s a loan to cover your financial needs, for example to pay bills or accumulate expensive debt. Restart loans are often intended as a temporary solution to help you get ahead. So that you can rebuild your finances over time and have payment reminders deleted.
How do you apply for an Omstart loan?
Fill in “start your application”. We then find a lender who offers this product. There are several banks and financial institutions that offer this. Together we fill in an application that contains information about your financial situation, your income and your expenses. You must also be able to present documentation of your financial situation, such as pay slips and tax returns. Once the application has been submitted, the bank will assess your application and decide whether you can get an Omstartslån.
Who can apply for Omstartslån?
In most cases, anyone in need of financial help can apply for an Omstart loan. These can be people who have gone through a divorce, a bankruptcy or another form of financial crisis. It can also be people who have gone through a transition. You are required to have collateral for the loan, such as a property owned by you or a collateral provider.
What does a Restart Loan cost?
The price of a Restart Loan will vary depending on the bank and your financial situation. That’s why it’s important for us to help you compare offers from different banks and assess what’s best for you. You should also be aware of any additional costs, such as set-up fees or term fees. There is a higher interest rate and set-up fee on an Omstart loan because the bank’s risk of loss is higher than with a normal mortgage.
What should you consider before applying for an Omstartslån?
It’s important to consider a number of things before taking out an Omstartslån. Firstly, you should consider whether you can afford to repay the loan according to the agreed repayment period. You should also consider whether you can afford to pay the interest and any fees that come with the loan. We help you compare offers from different lenders to find the best offer for you. It may also be a good idea to consider alternative solutions, such as saving money or applying for another loan with a lower interest rate.
Maybe you want to know too:
