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Mortgage refinancing

We offer a streamlined process for transferring your existing liabilities from another lender to SEB with no additional commission.

What is refinancing?

Mortgage refinancing allows you to transfer your existing mortgage loan from one lender to another. This simplified process involves concluding a new home loan agreement and collateral agreement with the new lender. Additionally, the new lender assumes the mortgage rights on the real estate that were held by the previous lender.

What are the advantages of refinancing with SEB?

By choosing to refinance your existing liabilities with SEB, you gain a reliable long-term partner and numerous advantages, including:

  • No commission fee for transferring your mortgage loan from the previous lender.
  • We handle the conversion of the existing pledge, so you don’t have to pay a state fee for registering a new pledge.
  • Reduced notary costs.
  • The new loan amount* completely covers your obligations to the previous lender. We take care of the formalities with the previous lender for you.
  • Opportunity to increase the loan amount if you wish to make additional home repairs or improvements.

*The new amount of the loan is the maximum balance of obligations with the previous lender (the balance of the unpaid principal amount, accrued interest and other payments resulting from the mortgage lending agreement), which it would be on the 60th day after the information was provided, assuming that the borrower did not make mortgage payments  during this time provided for in the agreement.

When carrying out refinancing, the loan is issued in accordance with the procedures for mortgage refinancing established in regulatory acts, which are stipulated in the Consumer Rights Protection Law and the Cabinet of Ministers regulations of October 25, 2016, No. 691 “Regulations Regarding Consumer Credit”.

How to refinance with SEB?

  1. Application and consultation

    Submit an application. Following that, we will arrange a remote online or in-person consultation to outline the refinancing process and answer all your questions.
  2. Submission of documents

    Submit the documents necessary for refinancing. 
  3. Bank offer

    We will review the application as quickly as possible and make you our offer. If you have any doubts or questions about the conditions, please discuss them with your client executive at SEB.
  4. Contacting the previous lender

    If you accept our refinancing offer, we will handle the communication and formalities with your previous lender.
  5. Signing the new agreements

    We will ask you to sign a new loan and collateral agreement with SEB. To mitigate the risks associated with home loan repayment, we recommend considering loan payment insurance.
  6. Signing documents at a notary

    You need to certify the documents related to the conversion of the pledge at a notary. You can also use remote video conference to communicate and confirm documents with the notary.
  7. Submission of documents to the Land Registry

    The conversion of the lien rights and related prohibitions must be registered in the Land Registry in favour of SEB.
  8. Changes in the home insurance policy

    Submit a request to the insurer to change the beneficiary in the policy to SEB.
  9. We clear the previous obligations

    We will make a payment to your previous lender, clearing your mortgage obligations in full.  
  10. Refinancing is done

    The refinancing process is completed successfully!