Temporary solutions to overlapping ownership of real estate

If you bought a property for private use between 1 January 2006 and 1 November 2008, but at the time owned another property already, and have not been able to sell one of the two properties in the meantime, you can allocate either to the creditor based on the current market price. The decision on which of the two two properties this should be will be taken in coordination with the allocated representative of the applicant. Remaining mortgage debts may not be less than 75% of the estimated market price of the property.

Documents to be delivered

• Mortgage certificate  for both properties
• An appraisement of two certified real estate agents for both properties. Please return the receipt for this service and the Deptors' Umbudsman will repay this cost if/when your application is approved
• Your password to enter www.skattur.is/ or your Tax returns for the last three years as well as your last Tax Assessment Notice either in print or electronically (PDF).
• A detailed written statement on all unpaid obligations in connection with both properties
• A declaration of consent for the collection of data, see here.  This declaration of consent needs to be signed both by yourself and your spouse, if applicable