Switching Mortgage Provider

[BigStack]

Hi,

I have had my mortgage with Nordea for the previous 2,5 years. I had to accept an uncompetitive interest rate as I had a very small deposit but now I have some equity built up and would like to explore other options (Nordea won't re-negotiate for another 2,5 years).

Can anybody share their experiences of switching mortgage provider - is this relatively straight forward or a beareaucratic nightmare ? Also interested to hear which banks you would recommend for good deals and service.

Kiitos!

[betelgeuse]

Can anybody share their experiences of switching mortgage provider - is this relatively straight forward or a beareaucratic nightmare ? Also interested to hear which banks you would recommend for good deals and service.

If you have a variable rate, by law you can pay back your existing mortgage whenever you want without penalty. The new provider would coordinate with the old provider to move the collateral. Nordea will probably be willing to negotiate once you bring them a better offer from somewhere else.