Swedbank Home Loan Swedbank Latvija
Price on request
- Interest Rate: Euribor 6M + 1.6%
- Max LTV: Up to 85%
- Rate Type: Variable (Euribor)
- Max Term: Up to 30 years
Compare Mortgages in Latvia
Compare the top mortgages providers in Latvia — see cover, features and typical rates side by side.
Live offers
3 live offers compared from 3 providers. Updated daily.
SEB Home Loan SEB Latvia
Price on request
- Interest Rate: Euribor 6M + 1.7%
- Max LTV: Up to 85%
- Rate Type: Variable (Euribor)
- Max Term: Up to 30 years
Citadele Mortgage Citadele Bank
Price on request
- Interest Rate: Euribor 6M + 1.9%
- Max LTV: Up to 80%
- Rate Type: Variable (Euribor)
- Max Term: Up to 30 years
What is a mortgage in Latvia?
A mortgage (hipotekārais kredīts) in Latvia is a long-term loan secured against residential property, used to buy an apartment or house. The property serves as collateral, and you repay the loan over a term that commonly runs up to 30 years. Most Latvian mortgages carry a variable interest rate made up of the Euribor benchmark plus the bank's fixed margin, so monthly repayments move with the reference rate. Loans and repayments are in euro.
How the Latvian market works
Mortgage lending is dominated by the large banks. Rates are almost always Euribor-linked, typically the 3, 6 or 12-month Euribor plus a margin set by the bank, which means borrowers felt the impact when Euribor rose from negative territory. Banks usually finance up to around 85-90% of the property value, requiring a deposit for the rest, though the state ALTUM guarantee programme can help families and young professionals with a smaller down payment. Building insurance on the property is required.
Benefits
Home ownership — Spreads the cost of a property over decades so you can buy without the full price up front.
Euribor transparency — The reference rate is public, so margin comparisons between banks are clear.
State support options — ALTUM guarantees can reduce the deposit needed for families and qualifying buyers.
Long terms — Repayment periods up to around 30 years keep monthly instalments manageable.
How to choose
Compare the bank margin added to Euribor, since Euribor itself is the same for everyone, and check the annual percentage rate of charge (GPL) which includes fees. Consider the deposit required, arrangement and property valuation fees, and whether an ALTUM guarantee applies to you. Factor in that variable rates can rise, so stress-test your budget against higher Euribor. Confirm building insurance and any life-insurance requirements before signing.
Leading providers in Latvia
Swedbank Latvija — One of the largest mortgage lenders, with online applications and Smart-ID signing.
SEB Latvia — A major housing-loan provider offering Euribor-linked mortgages and ALTUM-backed options.
Citadele Bank — A domestically rooted bank competing on margin and service for residential mortgages.
What it costs
The cost of a Latvian mortgage is driven by Euribor plus the bank's margin, so the total rate moves with the market. On top of interest, expect a one-off arrangement fee, a property valuation fee and notary and land-register costs to register the mortgage. Building insurance is a recurring cost. Because rates are variable, always view the total repayable under different Euribor scenarios rather than only today's rate.
Protections and regulation
Mortgage lending in Latvia is supervised by Latvijas Banka, which absorbed the former FKTK, with consumer-conduct oversight from PTAC. Lenders must disclose the GPL and provide the European Standardised Information Sheet (ESIS) so you can compare offers. Responsible-lending rules require affordability assessment, and borrowers have information and reflection rights before committing to a housing loan.
Common questions
Are Latvian mortgages fixed or variable? Most are variable, priced as Euribor plus a bank margin, so repayments change with Euribor.
How much deposit do I need? Typically 10-15%, though an ALTUM state guarantee can lower this for eligible buyers.
Can I repay early? Yes, though check the terms for any conditions on partial or full early repayment.
Mortgages in Latvia — FAQ
What mortgage rate can I get in Latvia right now?
Giraffy tracks 3 mortgage products across Swedbank Latvija,SEB Latvia,Citadele Bank lenders in Latvia. Use the sort and filter controls to compare fixed versus variable rates and initial deal lengths.
What is the difference between a fixed-rate and a variable-rate mortgage?
A fixed-rate mortgage locks your interest rate for a set period — typically 2, 5, or 10 years — giving payment certainty. A variable rate moves with the central bank benchmark rate set by the local financial regulator. Fixed rates suit those who want stability; variable suits those who expect rates to fall.
How much can I borrow with a mortgage?
Most lenders apply an income multiple — typically 4–5× your gross annual income for a conventional mortgage. Affordability assessments also factor in outgoings, existing debts, and the property's loan-to-value (LTV) ratio. A mortgage adviser or broker can run a full affordability assessment for free.
What is LTV (loan-to-value) and why does it matter?
Loan-to-Value (LTV) is the mortgage amount as a percentage of the property's value. A 90% LTV means you're borrowing 90% and putting down 10% as a deposit. Lower LTV means less risk for the lender — you'll typically be offered a lower interest rate with a deposit of 20–25% or more.
How long does mortgage approval take?
An indicative approval can usually be obtained the same day online. Full mortgage approval — after property valuation and underwriting — typically takes 2–6 weeks. Having all your documents ready (pay stubs, bank statements, ID) speeds up the process significantly.
Are there Islamic home-finance products available in Latvia?
Sharia-compliant home-finance products structure the transaction without interest, typically through Murabaha (cost-plus financing) or Ijara (lease-to-own) arrangements. Check with individual lenders for availability in your market.
What fees are charged to set up a mortgage?
Lenders often charge arrangement, origination, or application fees to set up a mortgage — amounts vary by lender and market. You can usually add them to the loan, but you'll pay interest on them for the full term. For large loans, a higher-fee/lower-rate deal may be cheaper overall — compare total cost over the initial fixed period.