Yes, if you were entitled to a loan when the old loan rules applied, and it is only a matter of refinancing existing loans, i.e. additional loans are not being taken.

In the same way as applying for a new loan. You have to fill out a loan application and apply for a new loan on My Pages. In the loan application, it must be specified that the new loan should be used to pay off an older loan. 

The pension fund has online access to a mortgage certificate and retrieves them for you. The Service fee is listed in the tariff.

LSR provides property valuations, but it can also be obtained from Registers Iceland.

LSR always used the property valuation in effect at each time when granting a loan. Thus, the fund does not start using property valuations that are announced in May of each year until 1 January of the following year, when the new valuations take effect.

No. LSR lends based on the official property valuation or purchase price of the property.

You perform a payment ability evaluation yourself on My Pages in connection with your loan application. The payment ability evaluation is simple to use and takes a short time to complete. It is necessary to have an electronic ID to be able to apply for a loan through the fund and to perform the payment ability evaluation. In the case of joint borrowing, all applicants must have electronic IDs, and all registered property owners must become borrowers. Please note that the cost of a payment ability evaluation must be paid even if the loan is not granted. 

Before a loan is granted, a payment ability evaluation is required. Please note that a payment ability evaluation may also be required when changing the terms.

According to the rules of the Central Bank of Iceland no. 216/2024, the maximum monthly payment burden for property loans shall be 35% of the loan applicant's monthly disposable income when a property loan is granted. The maximum is 40% in the case of financing the purchase of a first property. Loan applicants must therefore meet the above conditions when taking out a loan. Here you can find the rules in their entirety.

Credit rating is the lender's assessment of the borrower's creditworthiness regarding the likelihood of the borrower being able to fulfill the loan agreement. The credit rating shall be based on the business history between the parties and/or information from databases on financial matters and creditworthiness. According to the law  , the lender is obliged to assess creditworthiness.

Loan payment slips are now displayed on LSR's fund members website on My Pages at lsr.is. At the same time, the publication of the payment slips in online banks has been stopped. Furthermore, most other documents and information related to LSR's fund member loans are now available on My Pages.

Unpaid payment slips can be found under the relevant loan under the due dates tab, while payment slips that have been paid are under the payment history tab.

No, LSR does not grant mortgages against a third-party property.

Transferring the mortgage to another property is subject to LSR's approval in each case. A condition for the mortgage transfer to be approved by LSR is, amongst other things, that it is the same mortgagors, that the lien and the mortgage rate are not inferior, that the new mortgage is satisfactory in LSR's opinion and that the transfer of mortgage is in accordance with the applicable rules of LSR and the law in each case.

Yes, you can see it by logging into My Pages, but unfortunately that part of My Pages is only available in Icelandic. You can find it by going to loans and then overview, checking your loan at LSR and selecting the Loan Calculator. There you enter the amount you intend to pay for the loan and select "reikna lán". You will then see the loan payment schedule below, taking into account the excess payment.

Yes. To do so, send an email to lan@lsr.is or call 510 6100.

LSR does not allow other credit institutions ahead of it in the mortgage rank except in cases when a conditional mortgage license is issued. In those cases, the credit institution that precedes the LSR in the mortgage rank guarantees to pay the LSR loan in full with the new loan or the credit institution guarantees to pay in full the loan from another credit institution that was higher than LSR in the mortgage rank so that the LSR's mortgage status does not become worse.

No.

Yes, it is generally required.