Borrowers are advised to use private pension savings for their first property purchase. You can apply for this on the website leidretting.is and you can find more information about this resource there. 

If you want to refinance a loan to which private pension savings are allocated, a new application must be submitted to leidretting.is if you wish to continue the allocation of private pension savings to the new loan. In the application process at leidretting.is, you often have to manually register the new loan. For this, the loan number of the new loan must be entered and the bond of the new loan as well as a receipt of the loan's allocation must be included with the application.

Private pension savings are advantageous, whether it is used to pay off a mortgage or not.