kiinteistölaino

Kiinteistölaino is a Finnish term that translates to real estate loan or mortgage. It refers to a loan specifically secured by real estate, such as a house, apartment building, or land. These loans are typically used by individuals or businesses to finance the purchase of property. The property itself serves as collateral, meaning the lender has the right to seize and sell the property if the borrower defaults on their loan payments.

Kiinteistölaino are characterized by their long repayment periods, often spanning 15 to 30 years. The interest rates can be fixed or variable, depending on the loan agreement. In Finland, as in many countries, obtaining a kiinteistölaino requires a credit check and an appraisal of the property's value. The loan amount is usually a significant percentage of the property's market value, with the borrower needing to provide a down payment for the remainder. These loans are a fundamental tool for enabling property ownership and are a key component of the real estate market.