- The loans must be secured with a lien in residential housing for own use.
- These measures are tax free.
- This applies to paid premiums for wages earned during the period 1 June 2014 to 30 June 2019.
- Applications for the measure are made through the website of the Directorate of Inland Revenue, leidretting.is. The application does not apply retroactively. The private savings are paid toward the loan from the month in which the application is submitted.
- An individual can pay a maximum of ISK 500,000 per year. The contribution of a wage earner is 4% but is a maximum of ISK 333,000 per year. The contribution of employer is 2% but is a maximum of ISK 167,000 per year.
- Married couples and persons that meet requirements for joint taxation can pay a maximum of ISK 750,000 per year. The contribution of a wage earner is 4% but is a maximum of ISK 333,000 per year. The contribution of employer is 2% but is a maximum of ISK 250,000 per year.