YIT offers homebuyers a 2% interest rate cap on the reference rate for five years

YIT Corporation Press Release 26 January 2024 at 8:30 a.m.

YIT pays a 2% interest rate cap for five years on the reference mortgage rate for mortgage loan of YIT Home buyer when the customer takes out a loan from a YIT partner bank and completes a purchase of a ready-for-occupancy YIT Home between 29 January and 30 April 2024. The reference rate is tied to six or twelve-month Euribor, depending on the partner bank's interest rate protection product. The partner banks are Aktia and Nordea.

To avail of the benefit, the customer should first contact YIT Home sales. Depending on the partner bank, the sales negotiator will provide the customer with either a link to a personalised mortgage application or a campaign code, and only by using these can the customer obtain the interest rate cap benefit.

“The recent fluctuations in prices and interest rates have led many people to put off purchasing a home, and there is currently pent-up demand in the market. We want to eliminate uncertainty and give people the opportunity to buy a YIT Home without worrying about an increase in mortgage interest rates for the next five years. When a home buyer knows that the reference interest rate for the mortgage will be at most 2% for years to come, their finances become far more predictable,” says Pekka Helin, YIT’s Senior Vice President, Head of Customerships and Living Services.

Additional information about the interest rate cap product can be obtained from the partner bank during the mortgage negotiations. The interest rate cap benefit provided by YIT cannot be used for a loan to pay the redemption price of a lease plot or capital transfer tax. The campaign applies to YIT Homes that are ready for occupancy at the time of signing the home purchase agreement. The benefit is personal and is addressed only to personal customers. The partner bank always makes the final decision regarding the approval of the mortgage and the interest rate cap product during the mortgage negotiations.

“The new buyer of a YIT Home should first contact YIT Home sales, after which they negotiate their mortgage in the usual way with our partner bank. The mortgage negotiation is between the bank and the customer – YIT does not participate in it,” Helin points out.

Quality with over 100 years of experience

In the latest EPSI Rating survey on customer satisfaction in new housing construction, YIT was chosen as the best in terms of sustainability, quality and service quality. According to the study, YIT is also considered the top performer in its industry in terms of social, economic and environmental sustainability. YIT is Finland’s largest housing developer, with more than 100 years of experience of building high-quality homes.

Read more:
Contact information for YIT Home sales | YIT.fi
Available YIT Homes | YIT.fi

Further information:
YIT Group Communications, tel. +358 44 743 7536, press@yit.fi

YIT is the largest Finnish and a significant North European development and construction company. We develop and build sustainable living environments: functional homes, future-proof public and commercial buildings, and infrastructure for smooth mobility. We employ around 5,000 professionals in eight countries: Finland, Sweden, Estonia, Latvia, Lithuania, the Czech Republic, Slovakia, and Poland. Our revenue in 2022 was EUR 2.4 billion. YIT Corporation’s share is listed on Nasdaq Helsinki. Read more: www.yitgroup.com/en