Question 1

How long does it take to process an application?

Accepted Answer

You will normally be contacted by an adviser within 2-3 working days from submitting a loan application.

Question 2

How much equity is required?

Accepted Answer

According to the Financial Supervisory Authority of Norway’s guidelines, you need 15% of the home’s purchase price in equity.

Dersom du ikke har nok egenkapital er det likevel mulig å vurdere andre løsninger. Dette kan være tilleggsikkerhet i foreldres bolig, en medlåntaker på boliglånet eller noen som kan stille som sikkerhet med penger på konto, altså en kausjonist.

Question 3

How long is a pre-qualification letter valid for?

Accepted Answer

When your financing has been approved, you will receive a pre-qualification letter from us. This letter guarantees that your financing is in place, so you can take part in a bid round.

The pre-qualification letter is valid for 6 months and can be renewed.

Question 4

How do I renew a pre-qualification letter?

Accepted Answer

The pre-qualification letter is valid for 3 months and you can renew it by contacting the adviser at DNB who handled your pre-qualification letter.

If you cannot get hold of the adviser, you use the chat function or call us on +47 915 04800.

Question 5

What does it mean to be a co-borrower?

Accepted Answer

As a co-borrower of a home mortgage, you are jointly and severally liable for ensuring the entire loan is repaid. This means that each and every borrower is responsible for the entire loan.

Question 6

What is a mortgage guarantor?

Accepted Answer

A mortgage guarantor is a person who places their own property as additional security for a loan. For example, this might be your parents.

A secured guarantee can be an option for making up for a shortfall in equity. As a mortgage guarantor, you place your own property as security for someone else’s loan. This means that the bank makes you liable for paying the debt if the person you have placed the guarantee for does not pay. It is important to think carefully before agreeing to place a guarantee for someone. You can set a limit for how much you want to or can guarantee.

Question 7

What is meant by security in another home?

Accepted Answer

If you do not have enough equity, we can consider using additional security in a different home. You need 15% of the home’s purchase price in equity, according to the Financial Supervisory Authority of Norway’s guidelines.

You can borrow up to 100% of the purchase sum with additional security in your parents’ home, for example.

Question 8

What is joint debt?

Accepted Answer

Joint debt is debt that belongs to a housing cooperative, and everyone who has an occupancy right or share of an apartment in a housing cooperative, also owns a share of the debt.

The debt is often taken out to carry out works on the housing cooperative that will benefit all of the apartments or residents, for example renovating bathrooms, replacing windows, refurbishing the facade or building balconies. You repay the joint debt monthly along with the joint expenses. High joint debt also means high rent.

NB! Joint debt counts as part of your debt and has an impact on how much you can borrow from the bank.

Question 9

How can I make changes to the home mortgage?

Accepted Answer

You can easily make changes to your home mortgage when you are logged in to the online bank.

Under Loan changes select what you would like to change.

For example, you can change the due date (instalment date), the life / term (of the credit)/repayment period and the account from which the payments are taken.

Confirm and submit the change.

Question 10

Processing of personal data for loans

Accepted Answer

When you apply for a home mortgage, we process data about your income, debt and assets. We obtain information directly from you, from our internal systems and from public registers.

From our systems, we gather information about applications, payments and transaction history for loans, credit and accounts that you have with us. We can connect your to Altinn so the Norwegian Tax Administration gets your consent to provide details about income, debt and assets.

We can also obtain a summary from the Norwegian Debt Register of your unsecured debt, details of properties from the Norwegian Mapping and Cadastre Authority, as well as taxable income from previous years and payment remarks from credit information agencies. You are informed by credit information companies when details are obtained from there. Our processing of this data follows an automated risk assessment process.

This process is necessary in order to follow both the authorities’ requirements and to safeguard our own legitimate interest in managing our own risk and securing healthy finances and an ability to pay among our customers. We are also obliged to protect ourselves against money laundering and financial crime. If you do not agree with our process, we will not be able to handle your loan application, but you always have the right to correct any details that are incorrect.

When we approve a loan, DNB takes on a duty to report to the authorities. When we reject a loan application, we register this so that we can report the rejection, and potentially document the process afterwards. Registered details of a rejection can have an impact on your future applications.

DNB Bank ASA (the Bank) and DNB Boligkreditt AS (Boligkreditt) are jointly responsible for processing personal data. This means that your data will be available to both the Bank and Boligkreditt in both the application process and once the loan has been accepted.

The Bank and Boligkreditt are obliged to meet requirements to correct any errors and, at their own initiative, delete information that is no longer necessary. The bank is obliged to consider objections to the processing of personal data and must always comply with reservations against direct marketing. For Boligkreditt, marketing is not the purpose of processing personal data.

Read about how you can exercise your privacy rights in our personal privacy statement / “What are your rights” and contact details under “Questions and complaints”.

DNB’s Data Protection Officer (DPO) can be contacted by email at personvernombudet@dnb.no or by regular post at: DNB, c/o Data Protection Officer (DPO), PO Box 1600 Sentrum, 21 Oslo

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