Simplified refinancing is a process where the bank provides the borrower with a loan to fulfil financial obligations under one or more previously concluded credit agreements. Simplified refinancing conditions are applied when:

• the loan balance remains unchanged
• the same property is used as collateral
• the loan term does not get extended
• there are no overdue payments under the existing agreement
• simplified refinancing is used no more than once every 2 years

If you approach us for refinancing a loan previously granted by another bank or financial institution, we will not charge a contract fee when providing a loan for refinancing that meets the conditions for simplified refinancing as stipulated by law. Additionally, we will reimburse the costs incurred for an independent (external) real estate appraisal if we request such an appraisal and conclude a credit agreement. We will also cover the notary's fee for confirming the mortgage or related rights to the real estate and the fee for transferring data to the public register, as well as the fee for the public register administrator for registering the mortgage or related rights to the real estate in the public register.

If you approach us for refinancing a loan previously granted by another bank or financial institution, we will not reimburse the above‑mentioned costs when providing a loan for regular refinancing.

Yes, when refinancing a housing loan under the simplified procedure, the borrower's creditworthiness is assessed, just as when applying for a new housing loan or refinancing not under the simplified procedure. We evaluate financial capabilities, income sustainability, credit history (whether you have or have had debts, how you fulfill your financial obligations), and other financial commitments.

When refinancing a housing loan, both under the simplified and regular procedures, the borrower's creditworthiness is assessed, just as when applying for a new housing loan. Credit history is one of the criteria used to evaluate creditworthiness.

You will not incur additional costs just in case if the following conditions are met:

• the housing loan amount (outstanding balance) does not change
• the real estate pledged remains the same as in the original housing loan agreement
• the housing loan term does not extend
• on the day of applying to the new credit provider, the borrower is not late with payments under the original housing loan agreement

If you wish to refinance the loan under the simplified procedure while increasing the loan amount and/or extending the loan term, regular refinancing conditions and fees will apply.

Yes, you can. When negotiating your loan agreement with the new lender, you can choose the preferred type of interest rate and adjustment frequency based on the conditions offered by the new lender. However, if your loan was granted with a fixed interest rate, you may be required to pay compensation as stipulated by law when refinancing.

When refinancing a loan through the simplified process, you will not incur any additional costs.

When refinancing a loan under the simplified procedure, there will be no contract or commitment fee. If we request an independent (external) real estate appraisal and conclude a credit agreement, we will reimburse these costs. Additionally, we will cover the notary's fee for confirming the mortgage or related rights to the real estate and the fee for transferring data to the public register, as well as the fee for the public register administrator for registering these rights.

Simplified refinancing can be used no more than once every 2 years.

If you wish to refinance your existing credit obligations from another bank or financial institution to Luminor Bank, fill out an application for a new credit agreement. Apply here

Please submit a request to review the housing loan interest rates. You can do this by logging into your internet bank and selecting Applications → New Application → Loans → Request to Review the Interest Rates.

If you are interested in refinancing a housing loan, you will need to submit similar documents as when applying for a new housing loan. Detailed information will be provided during the consultation after we receive your application.

After submitting the application, the responsible bank employees will contact you as soon as possible, but no later than within 10 business days.