Landshypotek Bank becomes Swedish homeowners’ new mortgage bank
Landshypotek Bank has a long history and is one of Sweden’s largest banks for lending to the farming and forestry sector. A few years ago, the bank also opened savings accounts to the general public. Previously however, only farmers and foresters could raise loans with the bank. From the spring, we will also offer homeowners the opportunity to take out home loans with Landshypotek Bank.
“We have helped people live and run companies in the Swedish countryside for more than 180 years. We will continue to look beyond the major cities and homeowners will now also be able to take out loans with us. We have extensive experience and expertise in lending that we are now bringing with us as a mortgage bank for homeowners,” says Liza Nyberg, CEO of Landshypotek Bank.
The bank’s new home loans will be based on a clear interest-rate structure and a brand new digital solution for loan applications, with customers participating directly in the process.
“We have made rapid developments in recent years and will now have a strong digital solution for our new customers,” explains Liza Nyberg.
Landshypotek Bank is owned by its loan customers in the farming and forestry sector. The bank’s profits are distributed to owners and enable the continued development of farming and forestry, food produced in Sweden, well-kept forests and open landscapes.
The bank’s new mortgage venture also targets areas outside the major cities.
“So much is concentrated to the major cities nowadays, despite the majority of Swedes living outside the three largest cities. It may not always seem like it but there is life outside of Stockholm, Gothenburg and Malmö. People dream of owning a house, renovating the kitchen and building an extension. We recognise this lifestyle and want to be part of realising it. We will be a bank for the entire country.”
Facts about Landshypotek Bank’s new mortgage loans
- Unique digital solution for new loans, transferring existing loans, loans for extensions or renovations of houses.
- Digital applications made directly on the website or using the bank’s customer service.
Borrow up to 75 percent of the house value. Interest rates follow a simple model, which clearly shows influencing factors when making the application.
Loan customers in the farming and forestry sector will remain members of Landshypotek Ekonomisk Förening and continue to own the bank.
Landshypotek Bank will launch home loans later this spring.
For further information and comments, please contact:
Liza Nyberg, CEO, can be contacted through Tomas Uddin, +46 70 299 24 08
Tomas Uddin, Chief Communications Officer, +46 70 299 24 08