Heading safely towards your own home
When you’re planning to buy a new home, you should first find out what options you have for financing well in advance. Figuring this out in advance puts you in good stead on the path to your new home. Contact your bank to apply for a mortgage.
Check out our sites and reserve a property. Once you’ve reserved a property, our agent will contact you.
Complete the purchase. Once you’ve found your dream home, we will go through all of the sale documents and other practical matters with you, from warranties to insurance. When it’s time to sign the deeds, you can choose to sign digitally, if you prefer.
Choose your interior design style. Our skilled interior designers are ready to help you to choose from our wide range of high-quality materials.
Your new home is ready; it’s time to move in! In the capital region, we’ve even made moving in easy and carefree, as we also provide help with removals. Welcome to your dream city home!
How do I finance my new home?
In a new build, financing consists of two components; the sale price and the housing company loan. These together form the free-of-debt price of the property. The sales price is paid during construction, and you can use your own savings and a personal loan from the bank to pay this off. You can either choose to pay off the housing company loan in the form of financing charges or negotiate a personal bank loan and pay the bank loan off according to your own repayment plan.
Before reserving a property, it’s worth finding out your needs and options for personal finance. In addition to your own bank, you can also ask S-Pankki about personal finance and your options. When you submit a loan application to S-Pankki as one of our customers and use the code KASTELLI, the bank will begin to process your application within 48 hours. You can then progress at your own pace. Read more about S-Pankki loans.
What does the price of a new home consist of?
Approximately 60–70% of the free-of-debt price of the property is housing company loan, which can be paid off as part of the property maintenance charges. Alternatively, you can pay it off in full or in part when you purchase the property.
How are the payments distributed?
You pay the sales price of the property (approximately 30-40%) during construction. You can use your own savings and a personal loan from the bank to pay this off. The remainder (approximately 60-70%) is a housing company loan.
If you wish, you can choose to pay off the housing company loan in full or in part when construction is complete. After completion, the loan is paid according to a schedule determined by the board of the housing company.
After completion, you will initially only pay interest on the housing company loan. This means that you can focus on paying off your mortgage, and there will be more money available for you to make purchases for your new home, for example. The housing company loan has approximately one to two years of loan repayment holiday.
Around six months before the repayment holiday ends, the company will begin to collect funds for loan repayment, whereupon you will pay maintenance charges that include interest on the loan as well as a share of the repayment. The decision to begin collecting repayments will be made at the buyers’ meeting, which will also decide annually on the amount of charges to be collected for capital costs.
