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In the case of mortgage loan, you can decide how you will use the borrowed money.
You can start or promote your own company, renovate your home, buy real estate, go on a long trip, pay for your studies, cover your medical expenses, buy new kitchen furniture or home electronics, or invest it in something else you want or desire.
If you would like to consult our private loan manager before you fill in the application, contact us to make an appointment and we can have a discussion.
Apply for loan
The calculation is approximate and may differ from the terms and conditions offered to you.
You can use it as you wish, it is secured with real estate and the interest is considerably lower than that of a small loan.
If you would like a grace period, repay the loan early or agree on other conditions, our loan manager will help create a tailor-made solution for you.
We will quickly help each client find the affordable amount and the most suitable deadline. We will advise you on what to do to ensure that you can fulfil your wishes and that repaying the loan will not become a headache for you.
You can submit the application any time online or at the nearest branch of the bank. If you would like to consult our loan manager before you fill in the application, contact us to make an appointment and have a discussion.
Apply for loan
See the price list and the precontractual information.
Documents required for applying for a loan
If necessary, the private loan manager may ask questions and request documents additionally.
By taking mortgage loan, it should be taken into consideration that the assets, serving as a guarantee for the loan, should be insured throughout the whole period of borrowing. So your peace of mind is also secured – if something happens, the losses will be compensated and it will be easier to overcome the consequences.
We work with the Estonian leading insurance company If Insurance, in cooperation with whom we provide you insurance.
Please call +372 635 3009 or fill in the form for concluding home insurance, and you will be contacted.
The benefits of If home insurance:
The provider of insurance service is If P&C Insurance AS. Please see the terms and conditions on www.if.ee and consult an expert by insurance phone +372 635 3009.
In addition to monthly loan repayments, allowance has to be made for additional expenses that result from taking out a loan
The property serving as collateral has to be insured for the term of the loan against fire, water-related emergency, vandalism or natural disaster. For insuring assets, we accept all non-life insurance companies registered in Estonia and licenced by the Financial Supervision Authority and listed on the website of the Financial Supervision Authority.
Furthermore, in insurance matters an independent adviser / insurance broker may be contacted to assist with the identification of the insurance best suited for the interests of the policyholder.
Generally, on a mortgage loan interest and principal payments have to be made monthly. The bank withholds these from the client’s account on the dates agreed in the agreement and on the repayment schedule.
Two repayment schedules are available to choose from for the repayment of the loan
The financial situation may change during the repayment of the loan. For example, in the event of a child born into the family or of loss of employment, earnings decrease. In this case, there is the option of seeking a grace period in the repayment of the loan and pay the bank interest only during that period. The payment break application form can be filled in here.
Furthermore, there may arise the option of repaying the loan early in part or in full. If the bank is notified about this wish 3 months in advance, no additional fee is charged for the repayment of the loan.
The provisional annual percentage rate on a mortgage loan is 6,75% on the following sample terms: credit amount €16 280, repayment over 20 years in 240 monthly annuity payments, agreement fee €162,80, interest not fixed 6 months’ Euribor + margin 6,3% per annum (as at 21 January 2020, the 6 months’ Euribor is -0.334% per annum; the negative value of Euribor is equated to zero when interest is calculated; Euribor may change every 6 months), account management fee €0, total credit amount €28 672,81and total of repayments €28 510,01.
The rate is calculated on the assumption that the credit amount is used in full immediately and that its principal and interest will be repaid in monthly annuity payments. When credit is received, an insurance agreement needs to be concluded for the collateral. The rate does not include any expenses related to providing or the collateral. Before you conclude an agreement, we advise you to review the terms and conditions of the financial service and, if necessary, consult a specialist.
For you, a mortgage means that if the loan is not repaid, the bank will be entitled to sell the apartment or house, including the land, owned by you.
If the borrower is not performing their obligations, the bank will contact you and provide you with an opportunity to fulfil the obligation.
By fulfilling the borrower’s obligation, you can prevent the sale of the pledged apartment or house as well as avoid incurring any additional costs or litigation. You are entitled to require the borrower to indemnify any amounts paid by you.
Before you consent to the creation of a mortgage
When you are about to sign a notarised agreement
Once agreements have been signed
The bank usually applied the base interest rate of Coop Pank (KPB) to long-term loans (home loan, mortgage loan) from 1 May 2008 to 18 April 2012.
KPB is quoted and published by Coop Pank on its website every banking day, taking into account money market interest rates and the current state of the economic environment in Estonia and worldwide.
The base rate is more stable compared to individual market interest rates, since it takes into account more comprehensively how the economic environment and interest rates are shaped, follows the market situation at a calm pace and is not swayed by temporary fluctuations in the individual interest rates.
KPB is variable interest. For the client, Coop Pank’s base rate is fixed for three months at a time, changing if KPB has changed during the three months after it was fixed last under the agreement.
Currently, the base rate is 1.20%.
Base rate history