Why has my interest rate increased?
Norges Bank raised the key policy rate by 0.25 percentage points, and we are therefore adjusting the mortgage rate by the same amount from 14 July. The rate change applies to both new and existing customers! You will also receive an SMS about the change from SBN – this is because Bulder is part of Sparebanken Norge.
Paying via a standing transfer from another bank? Remember to increase the amount. You'll find your updated repayment plan in the app.
What does a rate increase mean?
A rate increase means it becomes more expensive to borrow money. If you have a mortgage, your monthly repayment will increase when the rate goes up. Paying via a standing transfer from another bank? Remember to increase the amount. You'll find your updated repayment plan in the app.
Why do interest rates increase?
Bulder follows the market. When Norges Bank raises the key policy rate, banks' own funding costs increase – and that affects the rate we offer. Norges Bank raises the key policy rate primarily to curb inflation in the Norwegian economy.
How much notice do you give before a rate change?
We always give existing customers 2 months' notice before an interest rate change takes effect – whether rates are going up or down. The notice is sent by email and to your inbox in the app.
Can I negotiate my interest rate?
No, Bulder does not offer rate negotiation or individual rate matching. Instead, we have an open price list and an automatic rate ladder: every month, we automatically check your loan against your property value and loan-to-value ratio, ensuring you always receive the best rate you are entitled to under our price list – without you having to keep track of it yourself.
Why doesn't the savings rate increase as much as the lending rate?
We understand it can feel uneven that loan and savings rates don't increase by the same amount.
Loans and savings simply work a little differently when interest rate levels change. We aim to offer the best possible overall deal for our customers over time – which means rate changes won't necessarily be identical across the board. When rates went down last autumn, we reduced the savings rate slightly less than the lending rate. So this works both ways.
Remember that we've paid out customer dividends seven years in a row. With the possibility of customer dividends, your savings give you more than just the interest rate alone.