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Home Equity Loan
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Apply for a home equity loan or consultation
I’m a customer of SEB
You can fill in and submit the home loan application in the internet bank.
I’m not an SEB customer
You can use an eID card or the qualified version of Smart-ID to sign the application (if necessary, view the Smart-ID setup guide（https://www.seb.lv/node/100537）).
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Continue（https://ibanka.seb.lv/ib/p/frame/ipank.p?act2=CRMCONTACT&topic_code=appl_homeloan&lang=ENG）
Continue（https://ibanka.seb.lv/web/ipank.p?act=CRMCONTACT&topic_code=appl_homeloan&pt=unknown&lang=ENG）
Choosing SEB provides you various benefits
Loan repayment schedule of up to 30 years
Possibility to defer principal payments, if necessary
Remote application and agreement signing
Calculate loan monthly payment
Calculation example : real estate price 80 000 EUR, customer down payment 12 000 EUR, loan amount 68 000 EUR, interest rate is 4,291 %, the interest rate is variable and consists of the total sum of margin and base rate, loan repayment term 30 years, monthly payment 339 EUR (360 payments in total), calculated according to annuity method. Commission fee for processing the loan is - 340 EUR, commission fee for servicing the current account - 1 EUR per month. Annual percentage rate of charge (APRC) 4,510 %, total amount to be paid 122 618 EUR. The loan is secured by a real estate mortgage, the mentioned real estate must be insured for the entire duration of the loan agreement.
More information
Price list
Service Fee
Revision of the application Free of charge
Processing of the loan, increasing (% of the granted amount) 1 0,5%, min 100.00 EUR
Repayment of the loan before maturity Free of charge
Other changes on the customer's initiative 1 150.00 EUR
Change of the monthly loan repayment date 50.00 EUR (once every 12 months - free of charge)
Change of the account used for monthly repayment in the internet bank Free of charge
Uninsured collateral maintenance 2 20.00 EUR per month
Additional services 3
Valuation of collateral By agreement
Preparation, processing and approval of bank's consent upon the customer’s request By agreement, min 70.00 EUR
1 The commission fee must be paid on the day the agreement or amendments are signed.
2 Commission fee is applied if the collateral is not insured (insurance policy is not provided to the bank) more than 30 days since expiration of the previous insurance policy.
3 The fee for issuing of references (per document) is set in “Processing of Customer's documents（https://www.seb.lv/en/private/price-list/processing-customers-account-documents）“ section.
Conditions
Term for Repayment of the Loan
Up to 30 Years
The period of the loan is determined individually, by evaluating each case separately.
Monthly Instalment of the Loan
May not Exceed 40% of Your Net Income together with your other loan and leasing payments
On the date specified by you, loan repayment takes place automatically from your current account in SEB bank.
Preconditions for the Receipt of a Loan
Stable, Regular and Sufficient Income for the Performance of Loan Liabilities
Bank evaluates your declared income: salary, income from the economic activity, rent, etc.
Positive Borrowing History
Prior to granting the loan, your previous financial liabilities will be evaluated. Positive borrowing history consists from prompt performance of liabilities.
Collateral on the Loan
Bank evaluates the condition and market value of the property.
Early loan repayment
Early repayment of the home loan is possible without additional fee.
Additional Information
Terms and conditions of the loan may differ for each transaction.
Amount of the loan, repayment term and other terms and conditions are evaluated according to the purpose of the loan, value of the collateral, and paying capacity of the customer.
For your information
The amount of the monthly instalment
The sum of the monthly instalments depends on several factors:
The amount of the interest rate and fluctuations thereof - the lower the interest rate, the lower the monthly instalment;
Period of the loan — the longer the term, the lower the monthly instalment.
Schedules of loan repayment
Annuity payments: during the validity term of the loan agreement payments of the principal sum and interest are separated into as equal payments as possible. Amount of the monthly instalment will be constant in the respective period of the interest rate change.
Linear payments: payment of the principal sum remains constant during the validity term of the loan, but interest is calculated from the unpaid part of the loan.
The interest rate of the loan
Variable interest rate will be applied to your loan, consisting of:
1) Base rate - variable part of the interest rate. You will be able to choose either a short-term or a long-term interest rate .
Short-term interest rate is determined for 3, 6, 12 months. It is usually lower than the long-term interest rate, but it fluctuates depending on the market situation (every 3, 6 or 12 months respectively), thus it will be more difficult for you to plan your expenses, but in the case of a favourable market situation you might be the winner.
Long-term interest rate is determined for a period of 2 to 5 years; usually it is higher than the variable rate, but remains constant for a longer period of time. Thus, you can reduce your risk, because the interest rate cannot change frequently.
Information on inter-bank rates（https://www.seb.lv/en/private/loans/leasing/money-market-indices） (money value in the market)!
2) Margin rate - fixed part of the loan interest rate, and main criteria for the determination of the amount of the interest rate are:
Stability of income and the capacity to prove it;
Previous cooperation with SEB bank, performance of liabilities;
Total amount of liabilities;
Amount of the first instalment;
Collateral on the loan — market value of the property.
Related costs
One-off costs:
Bank-related expenses:
Commission fee for the processing of the loan (documents) in accordance with the SEB bank price list.
Non-bank-related expenses:
Real estate evaluation;
Notarial services (drawing up requests for corroboration in order to change the ownership rights and registration of mortgage, etc.);
State fees and stamp duties for registration of the ownership rights and mortgage in the Land Register.
Repeated costs:
Real estate insurance;
Loan payment insurance (if the service is used).
Property insurance: banks minimum requirements
The most convenient way to purchase a home insurance which meets banks requirements is in the Insurance section of the internet bank .
If you wish, you may also submit a valid insurance policy issued by another insurer, in this case please make sure that the policy meets the following criteria:
The sum insured for the real estate and equipment is equal to the replacement value (insurance sum for apartments at least 1000.00 EUR/m2; for houses and other living premises - 1200.00 EUR/m2) or the actual value if the property is depreciated;