Swedish mortgage: one call for 0.2 points off saves SEK 6,000 a year
On a SEK 3 million mortgage, 0.2 points off saves SEK 6,000 a year, or SEK 4,200 after tax relief. Your bank's own average rate is your best argument.
A 15-minute call to your bank can pay well. If it cuts the rate on a SEK 3,000,000 mortgage by 0.2 percentage points, you save SEK 6,000 a year. That is SEK 500 a month before tax relief. After the 30% interest deduction ("ränteavdrag"), you keep SEK 4,200 a year.
In early January 2026 the banks have published their average rates for November 2025. That gives you fresh numbers to quote when you call.
List rate and average rate
The bank's list rate ("listränta") is the standard price of a mortgage. Few customers pay it. Most have a discount.
The average rate ("snittränta") shows what the bank's customers actually paid on average in a month. Since 1 June 2015, Sweden's Financial Supervisory Authority ("Finansinspektionen") has required banks to publish the average rate for each fixed-rate term. So you can see what other borrowers with the same kind of loan got.
These were the average variable rates (three months) in November 2025 at some of the large lenders:
| Bank | Average variable rate, November 2025 |
|---|---|
 Skandia |
2.52% |
 Handelsbanken |
2.63% |
 Swedbank |
2.63% |
 SEB |
2.65% |
 Nordea |
2.67% |
 SBAB |
2.69% |
The figures come from the banks' own reports, collected by Bolån Radar.
If you pay 2.85% on a variable loan, you are about 0.2 points above the average at most of these banks. That is your strongest argument. The current mortgage rates comparison lists the average rates for every term at more than 80 lenders.
Prepare for the call
Have this at hand before you dial:
- Your current rate and fixed-rate term.
- The size of the loan and the value of your home. A lower loan-to-value ratio means less risk for the bank.
- Your bank's average rate for the same term.
- An offer from another bank, if you have one.
Also check when your discount ends. Sweden's consumer bank and finance bureau ("Konsumenternas Bank- och finansbyrå") says a rate discount often applies for a set period. That period can differ from the loan's fixed-rate term. When the discount runs out, your rate goes up even though you did nothing.
What to say
Keep it short and specific. For example:
"I have a variable mortgage of SEK 3 million with you at 2.85%. Your average variable rate in November 2025 was 2.65%. I want a rate in line with the average. Otherwise I will ask other banks for offers."
Only say you might move the loan if you mean it. Then ask what the bank needs to lower the rate. Sometimes the bank wants your salary or savings moved there too. If so, check whether the discount is worth more than the fees for cards and other services.
Ask for the new terms in writing. Make sure they say how long the discount lasts.
Variable and fixed loans
You can renegotiate a variable loan at any time. On a fixed loan the rate is locked until the term ends. If you repay a fixed loan early, the bank can charge an early repayment fee ("ränteskillnadsersättning"). With a fixed loan, the best moment to negotiate is a few weeks before the term ends.
If the bank says no
Ask two or three other banks for offers. A new bank runs its own credit assessment and pulls a credit report on you. Then compare the whole cost: the rate, any demands to buy other services, and how long the discount lasts.
An offer from another bank often carries more weight than average rates. Show it to your current bank before you decide.
Work out your own saving
Multiply the loan by the cut in percentage points:
- SEK 2,000,000 and 0.2 points gives SEK 4,000 a year.
- SEK 3,000,000 and 0.2 points gives SEK 6,000 a year.
- SEK 4,000,000 and 0.3 points gives SEK 12,000 a year.
The interest deduction is 30% of interest costs up to SEK 100,000 a year and 21% of anything above. With interest below that limit, you keep 70% of the saving after tax. On a SEK 3,000,000 loan that is SEK 4,200 a year.
Sources
- Finansinspektionen: FFFS 2015:1 on information about mortgage interest rates (Swedish)
- Konsumenternas Bank- och finansbyrå: Average rates (Swedish)
- Konsumenternas Bank- och finansbyrå: Applying for a mortgage (Swedish)
- Skatteverket: Deduction for interest costs (Swedish)
- Bolån Radar: banks' average rates
This content is general information, not financial or legal advice. Bolån Radar collects data from banks and authorities and cannot guarantee that it is complete or free of errors. Talk to your bank or an adviser before you decide.