Housing loans on favourable terms

Fund members who have paid into the mutual pension division or the private pension division of Gildi are eligible for housing loans on favourable terms, on fulfilment of certain conditions. Borrowers can choose from different loan options, depending on what suits each person.

Please note, when refinancing your mortgage loan in the year 2022 we use the property valuation in the official property register for 2022.

Calculate your housing loan

By entering an amount in “Kaupverð” (Purchase price), you can set up different loans and see the estimated payment burden and percentage of costs based on different criteria. Please note that the calculation is for reference only.

The mortgage ratio may never exceed 100% of the property’s fire insurance assessment and site valuation.

Basic loans assume a mortgage of up to 65% of the value of the property in question. A supplementary loan is the proportion of the loan that is between 65–75% of the value of the property. The maximum amount of loans to an individual and spouse is ISK 75,000,000

More on loans

Indexed loan

An indexed loan generally involves a lower payment burden than a non-indexed one, but slower asset formation.
To begin with, instalments are considerably lower on an indexed loan than on a non-indexed one, based on same loan amount.

Equal instalments – equal payments

The payment burden of a loan with equal instalments is greater to begin with than with equal payments.
With equal instalments, the loan always decreases by the same amount every month, and asset formation will therefore be faster at first.

Indexed loans with fixed interest

An indexed loan with fixed interest includes predictable instalments and a more balanced payment burden, but slower asset formation compared to a non-indexed loan.

Indexed loans with variable interest

An indexed loan with a variable interest includes slower asset formation and a lower payment burden compared to a non-indexed loan.
During a long loan period, it can be guaranteed that interest rates will rise or fall and thus the payment burden will change. Loan instalments with variable interest rates are therefore not predictable throughout the loan period.

Non-indexed loans with variable interest

A non-indexed loan with a variable interest includes bigger instalments and faster asset formation compared to an indexed loan.During a long loan period, it can be guaranteed that interest rates will rise or fall and thus the payment burden will change. Loan instalments with variable interest rates are therefore not predictable throughout the loan period.