You can check the balance of your loan by logging into your internet bank and selecting My liabilities under the Loans section. Here you can view full information on the loans you have taken.

To check your next payment amount, the frequency of the interest rate change, and the next date of the interest rate change, please log into your internet bank account, select Loans → My Liabilities → Loans or leasing → Credit Agreement No.

If you wish to receive your payment schedule by post, please log into your internet bank account and fill out a free form application (Letters → New letter → Free form application).

Alternatively, you can request your payment schedule at the Customer Service Center.

In accordance with the Rules for the Provision of Credit Related to Real Estate (paragraph 7.6), information on the latest values of the variable part of the interest rate is published on the bank’s website or provided at the bank’s Customer Service Centers.

If you wish to receive your payment schedule by post, please log into your internet bank account and fill out a free form application (Letters → New letter → Free form application).
Alternatively, you can request your payment schedule at the branch.

According to regulatory requirements applicable to credit institutions and Guidelines on Loan Origination and Monitoring approved by the European Banking Authority, as adopted by local financial supervisory authority, Luminor Bank AS is obliged to constantly and systematically monitor the financial situation of its customers – borrowers with active lending products. This is done to ensure early detection of potential financial difficulties among customers, so the Bank could immediately address each individual case and thus avoid the substantial decrease in the overall quality of its loan portfolio. 

The abovementioned monitoring process is named “Early Warning Process” and includes customer checks in both internal and external sources, including information request from credit bureau (Creditinfo).

Yes, you can sell the mortgaged property. You can do that by logging into your internet bank and submitting an application (Applications → New Application → Document groups: Loans → Applications: Application to sell the property pledged to the bank).

Once you pay off your mortgage, you can discharge it. Usually, this process takes between 5 and 10 working days. You can find more information on the discharge of the mortgage at the self‑service of the State Enterprise Centre of Registers.

You can rent out a property hypothecated to a bank once the bank grants you permission. To receive the permission, you need to log into your internet bank and submit a free form application (Letters → New letter → Free form application) stating your credit agreement number, address of collateral property and agreeing to pay a fee for issuing permission granting letter. If you use e‑signature or Smart‑ID Qualified Electronic Signature, please provide your email address to which we could send an invitation to sign the documents.

Please note that the Borrower commits to ensure that the permission granted by the bank to rent out a property hypothecated to a bank is included as an annex in the rent agreement.

Yes, you can request to defer your loan repayment instalments (except for interest) for up to 3 months if you no longer meet the financial evaluation and responsible lending requirements, and if at least one of the following circumstances occurs:

• the Borrower‘s marriage is dissolved;
• the Borrower‘s spouse passes away;
• the Borrower and his/her spouse become unemployed or lose at least one third of their income;
• the Borrower is found to be incapable of work or partially incapable of work in accordance with the procedure established under the Law of the Republic of Lithuania on Social Integration of the Disabled.

If you are a military conscript assigned to compulsory initial military service you can request to defer your loan repayment instalments and choose one of the following interest payment options:

• pay interest on the loan as provided in your loan agreement;
• defer the interest payment on your loan and pay the accrued interest once you have finished your compulsory initial military service;
• defer the interest payment on your loan and pay the accrued interest once you have finished your compulsory initial military service according to a new interest payment schedule.

There is no deferral fee.

If you choose to defer repayment of the total loan amount, please note that the fulfilment of the conditions of the loan agreement does not ensure the repayment of the total loan amount under the loan agreement, as you will only pay interest during the deferral period and the loan schedule will be recalculated by increasing the remaining instalments proportionally and without changing the final loan repayment term.

Each customer faces different challenges and has different needs. When it comes to resolving financial difficulties, we suggest contacting our specialists. They will assess each situation accordingly and will provide an individual solution.
 
Please note that banks use credit histories to decide whether to provide customers with credit, and on what terms. Bad credit history can lead to a fewer loan options in future, therefore our main goal is to ensure our customers‘ long‑term financial stability.
 
If customer faces financial difficulties, we suggest immediately contacting our specialists by phone +370 5 239 3444, sending a message via internet bank or filling out the registration form.

For more information see the Rules of Estate Related Credits Granting.

Click here for more detailed information on the European banks funding rate.

Euribor is a Euro Interbank Offered Rate at which eurozone banks offer to lend funds in euros to other banks. The Euribor is published by the European Money Markets Institute or another officially designated organisation. 

For more information on Euribor please see here.

The Euribor interest rate can change (increase or decrease) depending on the market situation.

On the basis of historical data, the highest value of the most frequently applied interest rate of the 6‑month Euribor was ~5.5 %.  

The recent hike in the Euribor interest rate benchmark, which is projected to accelerate and fuel an increase in monthly loan payments, has triggered customers’ interest how it can affect their monthly loan payments.

The Bank's data suggest that, currently, the average loan amount is EUR ~93,000. Thus, taking into account the average loan amount and making an assumption that the Euribor can rise from 0% to 1%, the provisional average loan instalment might increase from EUR 40 to EUR 60 per month (depending on the interest margin and the loan term).

The following are examples of how the increase of Euribor could impact monthly loan instalments:

Provisional average loan instalment/per month depending on Euribor value, EUR

Loan amount, EUR	0 %	0.3 %	0.6 %	0.8 %	1.0 %	1.5 %	2.0 %	Spread when applying 0 % and 2 % Euribor, EUR
30,000	152	156	161	163	166	174	182	30
50,000	253	260	267	272	277	290	303	50
80,000	405	416	428	436	444	464	485	80
100,000	506	520	535	545	555	580	606	100
150,000	759	780	802	817	832	870	909	150
200,000	1012	1040	1070	1089	1109	1160	1212	200

*The provisional calculations were carried out by applying the interest margin of 2 %, assuming that the duration of the loan agreement is 20 years, and the loan repayment method is annuity.

With the Euribor interest rate in negative territory over the past few years, many customers have paid the interest margin only and forgotten that monthly loan payments are subject to fluctuations in the Euribor, which means that when it goes up, monthly loan instalments might rise too. Provisional calculations suggest that monthly loan instalments should not increase dramatically.

Choosing a fixed rate with a fixed interest period over a variable interest rate is a good idea if you want to avoid any possible interest rate fluctuations and thus any possible increase in your loan instalments. For both new and existing mortgage loans, you can select fixed rates with a fixed interest period up to five years. This means that interest rates will not change during the selected period of time and the customers who chose this type of interest rates will pay fixed monthly instalments that will remain unchanged until the date set in the agreement with the Bank. 

With fixed rates, you will pay the same amount throughout the mortgage and your monthly loan instalments will not be affected by economic fluctuations such as the sharp rise of the benchmark rate. Once the fixed period expires, the fixed interest rate will convert to the variable interest rate in accordance with the terms and conditions set in the agreement.

If you decide to choose fixed rates, you will need to complete a free form application in your internet bank: Letters → New letter → Free form application. As soon as we receive your application, we will contact you to discuss and agree on individual terms and conditions. 

Please note that the fixed interest rate is higher than the variable interest rate and if you want to repay your loan early, an early prepayment fee may be applied. 

According to the Responsible Lending Regulations, when granting credit with a variable interest rate, banks must assess the creditor’s ability to withstand likely leaps in interest rates and to repay the credit. Also, banks must inform the creditor of a possible increase in monthly payments (e.g., when the interest rate goes up to 8 %) before the agreement is signed.  

Prior to granting a loan, banks assess each customer's situation individually, taking into account their income level, income sustainability and other important criteria. Please note that the maximum amount of a person's or family's monthly loan payment (under financial obligations) cannot exceed 40 % of monthly income. Therefore, customers planning to take out a loan should evaluate their existing financial obligations and calculate their loan repayment amount to ensure that the loan would not become a heavy financial burden in future.

Credit instalments are paid monthly according to the schedule provided in the loan agreement. However, you can pay off your loan in full or pay off a part of your loan before the term originally set in the loan agreement.

If you wish to pay off your loan in full or a part of it early, you need to submit an application (Loans → Loan repayment application) to the bank and accumulate sufficient funds in the account specified in your loan agreement to cover the part of the loan being repaid, the prepayment penalty, if applicable, and payments due under the agreement.

If the portion of the loan is repaid earlier, all remaining loan instalments will be reduced proportionately. If it is an instalment loan, the oldest individual loan portion will be covered first. If terms of a few individual loan portions are scheduled on the same date, the portion with the higher interest rate will be covered first, unless otherwise stated in your application.

There is no fee for early repayment of a variable rate loan. 

The penalty for fixed interest rate loans is calculated individually, using the formula provided on the bank’s website. The prepayment fee does not apply if the loan or a part of the loan is repaid on the day of interest change.

If you wish to pay off the remaining amount of the loan in full, you can check loan’s balance by logging into your internet bank and selecting "My liabilities” under the “Loans” section.

If the interest rate of the loan is fixed for a period longer than 12 months, the early repayment fee is provided in the pricelist. The early repayment fee is not applied for the loans with the variable interest rate.

No, the interest rate will not change; however, the schedule of the instalments will.

You can check your last payment date in your credit agreement as well as your internet bank under Loans → My liabilities where you can find full information on your loans. If your loan is repaid, you’ll see no active loans.

If you need a reference for the loan you’ve repaid, you can order it from your internet bank under Letters → New letter. The fee for the reference will be debited from your account according to our price list.

After the final monthly payment, the bank will debit funds from your account for the notary fee and in discharge the mortgage from the property within 10 business days.

Your mortgage must be discharged by a notary, and we will take care of it in collaboration with the 14^th Notary Office of Vilnius City Municipality. If you’d like to collaborate with a different notary office, the bank can help you find another one. It takes 10 business days to discharge the mortgage.

After you’ve made the final mortgage loan payment, Luminor will immediately provide this information to the Central Bank of Lithuania.

To see if the mortgage has been discharged from your property, order a new data request from the Registry Centre (Registru centras) 10 business days after we have debited the fee for the notary. You won’t receive any additional mortgage discharge confirmation.

Yes. After the final mortgage loan repayment has been made and the mortgage has been discharged, the bank doesn’t apply any restrictions to the property, and you don’t have to align any future actions with us.

After the last monthly payment, consult your insurance company to change the beneficiary. Please make sure to check the terms and conditions described in your insurance policy.

You can close your bank account by applying via internet bank (New application → New application → Accounts → Account(s) closing application → Fill in), calling +370 5 239 3444, or visiting the nearest customer service centre, booking it beforehand via +370 5 239 3444.