You can apply for a mortgage through the fund of up to 45 million ISK, meaning you might not need an additional mortgage from a bank.
Moreover, you can apply for a supplementary mortgage of up to 20 million ISK. The application is rated depending on how much is already secured against your property and the amount must fall within 70% of the market value indicated on a recent purchase agreement or an official real estate evaluation of the property. When buying your first property, however, the total amount can be up to 85% of the property’s market value.
You can apply for a mortgage if you are a contributing fund member or are receiving your pension from Lífsverk.