Mortgage loan

The annual percentage rate (APR) is the total cost of a loan expressed as an annual percentage of the total loan amount. It is used so that consumers can compare loan offers from different credit institutions.

The total cost includes the interest charged for use of the loan; one-time fees like application fees, account-opening fees and service fees (if applicable); ALTUM guarantee fees (if the transaction includes an ALTUM guarantee); state and institution fees for registering a mortgage; and regular expenses such as insuring the collateral (property) and other known or assumed expenses.

APR is calculated in accordance with the formula and terms set out in Cabinet Regulation No. 691, Regulations Regarding Consumer Credit, adopted 25.10.2016, to determine the current value or total cost of all existing or future obligations (amount of loan issued, fees and expenses) to which the lender and consumer have agreed. When calculating APR, it is assumed that the loan agreement is in force from the day it is signed to the day of the final payment; the loan is paid out in a single payment on the day the agreement is signed; the interest rate in force on the day the agreement is signed remains in force for the entire term of the agreement; and the consumer fulfils their obligations in the manner and time limits set out in the agreement.

APR is calculated on behalf of the borrower, who is seen as the consumer in the eyes of applicable legislation. It is for the consumer’s information only, and is not recalculated over the course of the loan agreement’s term, including in cases when the figures, fees and interest rates therein change.

To apply for a mortgage, you must submit a loan application. This can be done on our website under Loans and Leasing > Mortgage loan, or in person at a Citadele branch.

What are the steps towards receiving a mortgage?

1. The customer fills in the application.
2. The bank prepares a provisional offer.
3. The customer submits the additional documents we ask for (for example, a property valuation — the list of our approved property appraisers is on our website).
4. The bank confirms its decision on issuing a loan and any ALTUM guarantee.
5. The customer signs a loan agreement and other documents at the bank.
6. The customer signs the necessary documents with a notary and submits them to the land registry.
7. After the mortgage is registered in the land registry and all necessary documents have been submitted to the bank, the loan is issued.

There are times when you can only take out a mortgage loan with the help of a co-borrower. The co-borrower can be your spouse, partner, or other close person or relative.

To find out the amount you can borrow, visit our website under Loans and leasing > Mortgage loan to fill in the mortgage loan calculator and find out how much you could receive as a loan. 
To fill in a mortgage loan application, select Apply for a loan and log in with one of our authorisation tools.
Fill in the necessary fields on the application and enter your personal information and any current loans. If you meet the criteria for any Altum programme, the offer we send you will automatically contain an Altum offer.

After submitting an application, a notification will show up on screen telling you that your application is being processed and a provisional offer is being prepared. You will also receive this message by email.

If you do not have any of the aforementioned authorisation devices, and you cannot submit an application electronically, please visit any Citadele branch  and fill in a mortgage application in person. In this case, please remember that your account statement showing your income for the past six months must be saved in your private email drafts. During the meeting, you will email it to a Citadele service specialist.

To find out the name and phone number of your loan specialist, please call +371 6701 0000.

The total sum includes the loan plus the total fees associated with the loan (all fees including interest, commission fees, taxes and other known fees linked with the loan agreement, such as a collateral valuation, collateral-property insurance and others). The total amount to be paid by the customer (consumer) is calculated on the day the agreement is signed, in accordance with Cabinet Regulation No. 691, Regulations Regarding Consumer Credit, adopted 25.10.2016.

If, while preparing your offer, we discover that we need more detailed information about your income, your application will display the status “Add Document” along with an explanation of what documents are necessary to enable us to prepare an offer.