Housing loan -bank to which salary come should be in Finland

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AlanAsher
Posts: 1
Joined: Fri Aug 13, 2021 9:58 am

Housing loan -bank to which salary come should be in Finland

Post by AlanAsher » Fri Aug 13, 2021 10:00 am

Hello all,

I am a permanent resident of Finland. My family lives in Finland. I work and live in Sweden. I asked Danske bank for a housing loan to buy a house in Finland. They are OK with how much I earn and everything. But, they are saying that the salary needs to come to a Finnish bank account. I am not sure if the Swedish company would be able to make a transfer of my salary to a Finnish bank account for tax and other reasons I guess. Danske bank also says that this is a common rule among the Finnish banks and I may not get a housing loan as long as the salary does not come to a Finnish bank account. Is there any other bank I can approach? Any suggestions on what I could try?

Thanks a lot for your time.



Housing loan -bank to which salary come should be in Finland

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FinlandGirl
Posts: 1329
Joined: Sat Nov 09, 2019 10:43 am

Re: Housing loan -bank to which salary come should be in Finland

Post by FinlandGirl » Fri Aug 13, 2021 10:34 am

AlanAsher wrote:
Fri Aug 13, 2021 10:00 am
I am a permanent resident of Finland. My family lives in Finland. I work and live in Sweden. I asked Danske bank for a housing loan to buy a house in Finland. They are OK with how much I earn and everything. But, they are saying that the salary needs to come to a Finnish bank account. I am not sure if the Swedish company would be able to make a transfer of my salary to a Finnish bank account for tax and other reasons I guess.
It should not be a problem for your employer to pay the salary to any bank account that has an IBAN.
Taxation is based on your residence, if you are residing in Finland you have to report your worldwide income to Vero.
AlanAsher wrote:
Fri Aug 13, 2021 10:00 am
Danske bank also says that this is a common rule among the Finnish banks and I may not get a housing loan as long as the salary does not come to a Finnish bank account.
I am surprised they care about the country of the bank account, I would have expected the country of employment to be a more likely problem for a loan.

betelgeuse
Posts: 4353
Joined: Thu Aug 29, 2013 1:24 am

Re: Housing loan -bank to which salary come should be in Finland

Post by betelgeuse » Fri Aug 13, 2021 12:02 pm

FinlandGirl wrote:
Fri Aug 13, 2021 10:34 am
AlanAsher wrote:
Fri Aug 13, 2021 10:00 am
Danske bank also says that this is a common rule among the Finnish banks and I may not get a housing loan as long as the salary does not come to a Finnish bank account.
I am surprised they care about the country of the bank account, I would have expected the country of employment to be a more likely problem for a loan.
I am speculating but Finnish enforcement can’t be used to collect from foreign bank accounts. Generally banks as part of the mortgage process also prefer you to move your daily banking to them. This isn’t fully possible if the salary isn’t paid there.

Talouskaveri
Posts: 10
Joined: Sat Jul 10, 2021 10:13 am

Re: Housing loan -bank to which salary come should be in Finland

Post by Talouskaveri » Sat Aug 14, 2021 6:06 pm

Your employer shouldn't have a big problem in paying the salary to a bank account in another EU country.
Do you currently pay income tax in Sweden, in Finland or in both countries (taxes paid in Sweden should be deductible in Finnish taxation)?


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