Loan, leasing – questions and answers

On your full-version Internet bank, send a message to the bank, in the section Messages / All messages /  New application / Application from a sample, selecting the subject Application for Early (Partial) Repayment of Loan

To get a consultation regarding your current loan, you need to apply for it on your full-version Internet bank, by writing a free-form application, stating your question, in the section Messages / All messages / New application. An answer will be given in the same section, in form of a message.

To get a consultation regarding a new loan, fill in a credit application form and our experts will contact you. 

Write an application in the Internet bank section Messages / All messages / New application / Application from a sample and select the subject regarding payment holidays.

Please, do not hesitate to contact us as soon as any concerns arise regarding difficulties to make payments. We will review every application individually and seek the most appropriate solution to suit every customer.

On our website, in the section Loans, choose the loan or leasing that suits you most and fill in an application form. Our experts will contact you to clarify all the necessary information.

You can view the necessary information on Internet bank, section Loan and Leasing, by selecting the option of detailed information.

Write to lizings@luminor.lv.

The funds intended for repayment of consumer loan must be provided in your current account on the date of repayment specified in loan agreement. On this date, we will automatically repay the loan according to the loan schedule.

An interest is a price that a customer pays for the use of money. Housing loans interest rate may be:

• variable interest rate that consists of 3, 6 or 12 month EURIBOR rate + individual interest margin

If Euribor is negative, it is deemed to be equal to zero.

• fixed interest rate that may be set for a period of up to 5 years

On expiry of this period the interest rate will be either automatically changed into variable interest rate or a fixed interest rate may be set again by agreement of the parties.

A margin is a difference between the final determined interest rate for the customer and base interest rate (for instance, Euribor) which bank receives as a fee for the provided services, finalized tasks and the potential risk.

Euribor is a Euro Interbank Offered Rate at which eurozone banks offer to lend funds in euros to other eurozone banks. EURIBOR is published by the European Money Markets Institute (EMMI).

For more information on EURIBOR please see here.

Euribor interest rate can change (increase or decrease) depending on the market situation.

On the basis of historical data, the highest value of the most frequently applied interest rate of the 6‑month Euribor was ~5.5 %.  

You can find this info in your internet bank​'s section "Loans and leasing", filter loan contract and click "Detailed information".

Choosing a fixed interest rate over a variable interest rate is a good idea if you want to avoid any possible interest rate fluctuations and thus any possible increase in your loan instalments. For both new and existing mortgage loans, you can select fixed interest rate for a period of up to five years. This means that interest rate will not change during the selected period of time and the customers who chose this type of interest rate will pay fixed monthly instalments that will remain unchanged until the date set in the agreement with the Bank.

With fixed interest rate, your monthly loan instalments will not be affected by economic fluctuations such as the sharp rise of the benchmark EURIBOR rate. Once the fixed period expires, the fixed interest rate will convert to the variable interest rate in accordance with the terms and conditions set in the agreement.

If you decide to choose fixed interest rate, you will need to complete a free form application in your internet bank: Letters / New letter / Free form application. As soon as we receive your application, we will contact you to discuss and agree on individual terms and conditions.

The fee is calculated as compensation for potential costs of the Bank directly linked to the early repayment.

The fee is calculated according to the formula: I = (ratio K * P),
where I – early repayment fee;
P – loan amount being repaid early;
Ratio K – value calculated by the Bank which depends on the financial market interest rates change, the rest of the period to a fixed rate expiry of the loan agreement and the final repayment date.

In case the interest rate under the agreement is fixed and its validity is terminated as a result of changing the terms and conditions of the agreement, then an additional fee is applied which is equal to the early repayment fee applied to loans with fixed interest rate.

In such cases, the calculation of the fee is based on the outstanding loan amount but not on the pre-paid loan amount. For the purpose of application of this fee the validity of the fixed interest rate is considered to be terminated in the following cases:

• the fixed interest rate is changed into the interest rate changed on a 3, 6 or 12 month basis;
• the fixed interest rate is changed into a lower fixed interest rate;
• the loan currency is changed;
• the effective period of the fixed interest rate is shortened;
• the loan amount provided by the agreement is reduced.

You will need to complete a free form application in your internet bank: Letters / New letter / Free form application. As soon as we receive your application, we will contact you to discuss and agree on individual terms and conditions.

You can find more info in frequently asked questions or send us a message via internetbank.

Fill in the application to receive a structured consultation based on your specific situation regarding the possibilities of obtaining a loan.

The maximum monthly loan payment is calculated taking into account the ratio of the total monthly loan payments to your monthly net income. Up to 40 % of monthly income may be used for loan payments. 

For customers with monthly income above € 1 300, this ratio may exceptionally be higher, provided that there are other liabilities that will be settled soon (maximum within one year).

Insufficient income, negative records in the credit history.

Within the creditworthiness assessment process, the Bank assesses the following:

• regular monthly income
• present liabilities and the underlying monthly loan payments
• the number of dependents and, if necessary, the total household income and expenditure
• credit history

When calculating the creditworthiness, the Bank checks the following:

• information from income databases (SSIA and/or SRS)
• information on credit liabilities and repayment quality (Bank of Latvia Credit Register, Credit Information Bureau, CREFO)
• databases required for monitoring the prevention of money laundering and terrorist financing

What databases does the Bank check when assessing my creditworthiness?

On the product type, the transaction amount and the credit risk level of the transaction.

The credit history is the information about the customer's present and past credit liabilities and the quality of repayment.

Customers who receive the national minimum wage cannot get a mortgage loan. When calculating the creditworthiness, the Bank takes into account the subsistence minimum for each borrower and each dependent. The subsistence minimum for a mortgage borrower is higher than the national minimum wage (net). 

The credit rating indicates the probability (%) that the customer will not be able to timely meet his/her loan obligations in next 12 months. The rating is determined by using statistical models, taking into account the customer and transaction related information.

The rating for a mortgage loan can be improved by choosing a shorter loan repayment term (not exceeding 20 years) and providing more co-financing (above 30%). Other criteria cannot be improved as they relate, for example, to the client's length of service, industry and the like.

There are no elements for consumer credit that would allow to improve the rating, as it consists of various customer characteristics at particular moment.

The source of income influences the credit rating, however, the credit rating is based on a set of several factors, and the source of income is not the most important element that improves or worsens the credit rating.

The credit rating instrument is designed to enable the Bank to manage its loan portfolio and related costs (capital requirement costs, provisions) more efficiently. The credit rating model embodies calculations based on statistical methods that allow to identify risky transactions that may cause losses in the future and thus adversely affect the Bank's financial performance and credit rates for new transactions. The credit rating provides an opportunity to develop a pricing policy that ensures lower added rates for low-risk customers and higher rates for high-risk customers.

The funds intended for repayment of mortgage loan must be provided in your current account on the date of repayment specified in loan agreement. On this date, we will automatically repay the loan according to the loan schedule.

You can see the loan repayment schedule in the Internet bank, section Loans and Leasing.

To change the monthly payment date, send a free-form application via Internet bank in section Messages / New application.

To change the account from which you make your monthly mortgage loan payments, send a free-form application via Internet bank in section Messages / New application.

Credit instalments are paid monthly according to the schedule provided in the loan agreement. However, you can pay off your loan in full or in part before the term originally set in the loan agreement.

If a portion of the loan is repaid earlier, all remaining loan instalments will be reduced proportionately. You can also shorten the loan term, leaving the instalments in the same amount as before.

There is no fee for early repayment of a variable rate loan. In case the early repayment is made by refinancing the loan to another creditor or selling the pledged property when the transaction is financed by another creditor, the bank can apply a fee for the execution or review of documents according to the price list.

The early repayment fee for fixed interest rate loans is calculated individually in accordance with the loan agreement to cover potential costs to the bank linked directly to the early repayment.

The law sets limits and requirements regarding the compensation which the bank can request from the consumer if the loan is repaid early. The compensation may not exceed:  

• 1 % of the amount of loan repaid early, if the period of time between the day of early repayment and the expiry of the loan agreement exceeds one year; or  
• 0.5 % of the amount of loan repaid early if the period of time between the early repayment and the expiry of the loan agreement does not exceed one year; or  
• the sum of the interest which the consumer would have paid in the period between the day of performing the early repayment and the agreed day of the expiry of the concluded loan agreement.  

The bank does not have the right to claim the compensation thereof, if: 

• the amount repaid early does not exceed EUR 9960 within 12 months;  
• the repayment has been made under an insurance contract intended to provide a loan repayment guarantee;  
• the repayment falls within a time period for which the borrowing rate is not fixed.   

You can apply for early loan repayment in the section Messages / New application in the internet bank, choosing Application from a template with the subject Application for early repayment of a loan or any portion thereof. 

There are two ways to defer payment of the principal amount, namely:

• If the agreement provides for the possibility of deferring the principal amount, it can be applied for via Internet bank, in section Messages / New application by writing an application using the application from a template and selecting the subject: Payment holidays according to credit agreement.
• If solvency difficulties have appeared, then the defferal of the principal amount repayment can be applied for by filling out the application for the grace period (Application for credit changes, including the grace period) in the Mortgage loan Useful links section of the Bank's website.

Credit statements and bank consent can be applied for by filling out the application form.

To apply for a change of the loan repayment term, send a free-form application via Internet bank in section Messages / New application. It is not possible to change one month repayment date.

We assess the situation of each client individually. To apply for the release or change of guarantor, send a free-form application via Internet bank in section Messages / New application.

We assess each situation individually. To apply for a collateral change, send a free-form application via Internet bank in section Messages / New application.

We assess each situation individually. To apply for release of the additional pledge, send a free-form application via Internet bank in section Messages / New application.

Commission fee for changes in the mortgage loan agreement, according to the price list is € 200.

To increase the amount of the issued loan, the value of the existing loan and the pledged property, as well as the customer's solvency are important. To allow us assessing the particular situation, apply for a consultation on obtaining a mortgage loan.

You can check this in the section Loans and Leasing on the internet bank. The repayment schedule is available until the next change of the rate when the payments are recalculated, hence the future schedule is not visible.

If you want to receive a future schedule based on the assumption that the interest rate does not change, please go to the section Messages / New application on the internet bank and write that you want to receive the future schedule of the credit agreement. This service is free of charge.

Historical repayment schedule is not available but you can get information on the payments made by filling in an application for a non-standard statement.

A commission fee is charged for the statement according to the price list (Non-standard reference).

Penalties and/or late payment interest are calculated if you are late with your payments. Once you have made the late pay-ments, the penalty is no longer charged. A contractual penalty may also be applied if you fail to fulfill other contractual obligations, for ex-ample, if you don’t an insurance policy for the next period.

Go to the section Messages / New application in your internet bank and write that you want to receive a duplicate of the loan agreement. Please also indicate that you agree with the commission fee. Since the original of the agreement will be requested from the archive, a commission fee will be charged according to the price list (Issuance of a document from the archive). 

There are two reasons for changing the pledgor in majority of cases:

• in case of selling the real property;
• changing the owner of mortgaged real property to spouse, borrower or guarantor.

Reconstruction of real property (including replanning, reconstruction, renovation) is permitted only in compliance with the procedure established by laws and regulations, with the approval of the respective institutions.

Prior to turning to the building authority, you will need our consent. You can write the application for receiving the consent on the Internet bank, section Messages.

Commission fee for Luminor’s consent to actions with mortgaged property: Mortgage loan and Private loan.

You were granted a loan based on its purpose and the condition and value of the mortgaged real estate after completing the planned construction work. In addition to the standard lending conditions, the loan agreement required you to (1) put the real estate into service after completing the construction work and (2) register it as a completed real estate in the Land Register, where applicable. Both steps have to be carried out by the deadline specified in the agreement.

What steps do I take?

You need to put the real estate object into service and register it in the Land Register as a completed real estate object.

1) The procedure for accepting a real estate object into service is determined by the Cabinet Regulation No. 500, General Construction Regulations, and the Cabinet Regulation No. 529, Building Construction Regulations. You can find more information on the process in the section Acceptance of a building or part of a building into operation on latvija.lv.
2) The entry of a real estate object into the Land Register is regulated by the law On the Entering of Immovable Property in Land Registers. More information about the documents you need to submit is available on zemesgramata.lv (Frequently asked questions, Required documents).

What should I do if I don’t meet the deadline set in the loan agreement?

If you can’t meet the deadline, you can request an extension by sending a free-form request via Luminor internet bank or as an electronically signed document to info@luminor.lv.
After assessing your request and the situation, we will let you know whether we agree to the extension and what additional formalities need to be completed. Please note that amending the loan agreement is subject to a fee in accordance with the price list.

What are the consequences if I can’t fulfil the obligation set out in the agreement?

If the real estate object is not accepted for service and registered in the Land Register within the deadline or if the loan agreement is not amended for the deadline extension in time, the interest rate will be increased according to the terms of the agreement until the contractual obligation is fulfilled. If you don’t meet the obligation, your monthly loan payment will increase.

You were granted a loan for a specific purpose, namely, construction work or renovation, and in addition to the standard lending terms, you were given an obligation to fulfil until the deadline set in the agreement:

1) For major construction work or renovation, to provide the bank with a report on the use of the loan funds after completing the planned work;
2) For smaller construction work or renovation, to provide photographs of the renovated premises or the constructed building after completing the planned work.

What steps do I take?

Depending on the terms of the agreement, either 1) submit a report to the bank (for major construction work/renovation) or 2) submit photographs (for smaller construction work/renovation).

1) You need to base the report on the original estimate of the construction work or renovation submitted to the bank, together with the actual cost of the works carried out (see sample). Please submit the report by the date set in the agreement by email to your loan advisor and additionally (CC) to info@luminor.lv.
2) You need to take photographs of the fully renovated premises or the completed building, recording as much as possible all the work carried out. Please submit the photographs by the date set in the agreement by email to your loan advisor and additionally (CC) to info@luminor.lv.

What should I do if I don’t meet the deadline set in the loan agreement?

After assessing your request and the situation, we will let you know whether we agree to the extension and what additional formalities need to be completed. Please note that amending the loan agreement is subject to a fee in accordance with the price list.

What are the consequences if I can’t fulfil the obligation set out in the agreement?

If you can't provide the report or photos within the deadline, or if the loan agreement is not amended in time to extend the deadline, the interest rate will be increased according to the contractual terms until you provide the report or photos. This will result in an increase of your monthly loan payment.

You were granted a loan taking into account its purpose, the actual condition of the mortgaged real estate object, and its expected future value.

In addition to the standard lending terms, your loan agreement required you to submit to the bank, after completing the planned work, an updated assessment of the real estate or a statement of attained future value, i.e. proof that the planned value taken into account when granting the loan has been attained.

What steps do I take?

You must apply to a certified real estate appraiser (a list of Luminor-approved appraisers is available here) for an assessment of the real estate or a statement of attained future value.

What should I do if I don’t meet the deadline set in the loan agreement?

After assessing your request and the situation, we will let you know whether we agree to the extension and what additional formalities need to be completed. Please note that amending the loan agreement is subject to a fee in accordance with the price list.

What are the consequences if I can’t fulfil the terms of the agreement?

If you can’t provide an updated assessment of the property or a statement of attained future value within the deadline, or if you don't sign an amendment to the loan agreement to extend this deadline on time, the interest rate will be increased as specified in the agreement until you provide the relevant document. This will result in an increase of your monthly loan payment.

You were granted a loan taking into account the actual condition of the real estate object to be credited, including the fact that the real estate had been reconstructed without complying with the procedures laid down in the laws and regulations governing construction.
In addition to the standard lending terms, your loan agreement required you to validate the reconstructions carried out: to coordinate the construction or renovation documentation with the building authority of the relevant administrative area. You have to fulfil this obligation by the deadline specified in the contract.

What steps do I take?

You need to prepare and coordinate the building documentation in accordance with the Cabinet Regulation No. 500, General Construction Regulations, and the Cabinet Regulation No. 529, Building Construction Regulations. On practical matters, we recommend that you consult a building specialist (architect).
If this is a requirement in your loan agreement, you should submit an updated cadastral survey file of the real estate object to the bank by email to your loan advisor and additionally (CC) to info@luminor.lv after the documentation has been coordinated.

What should I do if I don’t meet the deadline set in the loan agreement?

If you can’t meet the deadline, you can request an extension by sending a free-form request via Luminor internet bank or as an electronically signed document to info@luminor.lv.
After assessing how the deadline extension will affect the fulfilment of the terms of the agreement, we will let you know whether we decide to grant or refuse the amendment. Please note that amending the loan agreement is subject to a fee in accordance with the price list..

What are the consequences if I can’t fulfil the terms of the agreement?

If you can’t complete the coordination of the documentation and submit an updated cadastral survey file of the real estate (if applicable) to the bank within the deadline or if you don’t sign an amendment to the loan agreement to extend this deadline on time, the interest rate will be increased as specified in the agreement until you take these steps. This will result in an increase in your monthly loan payment.

According to regulatory requirements applicable to credit institutions and Guidelines on Loan Origination and Monitoring approved by the European Banking Authority, as adopted by local financial supervisory authority (Bank of Latvia), Luminor Bank AS is obliged to constantly and systematically monitor the financial situation of its customers – borrowers with active lending products. This is done to ensure early detection of potential financial difficulties among customers, so the Bank could immediately address each individual case and thus avoid the substantial decrease in the overall quality of its loan portfolio. 

The abovementioned monitoring process is named “Early Warning Process” and includes customer checks in both internal and external sources, including information request from credit bureaus.

The Altum guarantee is designed to help young professionals with a regular income to get a bank loan for purchasing or building a home, if they do not have sufficient savings for a down payment. The guarantee remains in effect for the entire loan term and its balance decreases in proportion to the loan balance. You can find more information altum.lv.

No, it cannot. However, the loan for which the Altum guarantee is granted can be repaid early. The quarterly payment amount for Altum guarantee will be calculated based on the remaining loan amount.

Yes, the guarantee can be waived if a part of the loan has been repaid and the guarantee is no longer needed as a loan collateral. Before making such changes, the creditworthiness and the loan balance will be determined, after which it will be possible to waive the guarantee.

Illustrative example for a guarantee of 9,500 EUR:
9500 x (2.4/360) x 91= 57.63
Guarantee amount x (rate/360) x number of days in the quarter = guarantee payment

The example uses the following data:

• Guarantee amount: 9,500 EUR;
• Guarantee payment rate: 2.4%;
• Number of days: 91 (one quarter). 

The guarantee payment for the quarter with 91 days will be 57.63 EUR.

Additional information altum.lv.

Starting from the second year, an annual fee of 2.4% of the outstanding amount of the guarantee applies.

The guarantee payment is divided into quarterly instalments, which must be paid by the beginning of the following quarter.

The guarantee payment is deducted between the 20th and 25th of the month. If the date falls on a weekend or a public holiday, the payment may be deducted earlier.

You can check your remaining loan payments in the internet bank section “Credit and leasing”. If the mortgage loan is fully repaid, you won’t see any information on an active loan in this section.  

A week after you’ve made your last payment, we suggest checking the above-mentioned internet bank section – if you still see details about an active loan, please get in touch with us.  
 
If you need a reference about the loan you’ve repaid, please submit an application for receiving one. Getting a reference is a paid service as per our pricelist. 

As the pledgee, we initiate the mortgage without the involvement of the borrower. We will submit the request for the discharge to the Land Register (Zemesgrāmata) electronically. The Land Register will process the request in approximately 1–2 weeks. Please contact us if within 2 weeks the mortgage has not been discharged.

We usually transfer information to the Credit Register of the Bank of Latvia within 1–3 business days. We transfer information to the Credit Information Bureau three times a month.

You can check it on zemesgramata.lv under “My Data”. You won’t receive any additional mortgage discharge confirmation from us.

After the mortgage has been discharged, you don’t have to align any future actions with your property with us.

The insurance policy is valid until its expiry date. You can turn to your insurance company to change the beneficiary or arrange to have the policy ended prematurely.

We’d be happy to continue our partnership with you (you can take a look at our services on our website), however, if you have decided to close your accounts with us, please submit an application or send us a free-form message in your internet bank under “Messages”. 

By submitting a free-form application in the internet bank and specifying all information – agreement number and date. Fee for making amendments according to the price list – EUR 20.

By submitting a free-form application in the internet bank and specifying all information – agreement number and date. Fee for making amendments according to the price list – EUR 20.

Yes, it is possible and it does not cost anything extra. To apply for early repayment of the loan, connect to the full version of the internet bank, select section Messages - New application - Application from template and enter the required information.

You can apply for a loan repayment pause by completing an application in the internet bank in section Messages - New application - Application from template and entering the required information.

You cannot receive an additional amount. However, it is possible to apply for a new consumer loan with or without repaying the existing consumer loan. Apply for a loan here.

Each loan application is evaluated individually. Yes, there may be situations where we ask you to submit an account statement in accordance with the Loan Evaluation Policy.

No.

Yes.

Yes, it is possible to receive a loan, but you will also have to open a current account with Luminor.

Yes, please submit application here.

No, a refinancing product is not available with Luminor yet.

You were granted a consumer loan for a specific purpose: the purchase of a motor vehicle. If specifically stated in the contract, the vehicle to be purchased must have a certain CO₂ emission performance. Considering this, you were granted a lower interest rate. That’s why, in addition to the standard lending terms of the agreement, you are required to purchase the vehicle and confirm this to the bank within 60 days of the loan being granted.

What steps do I take?

You must purchase the motor vehicle and register it in your name. The registration procedure is set out in the Cabinet Regulation No. 1080, Regulations on the registration of motor vehicles. You then need to submit a copy/photo of the registration certificate of the purchased vehicle to the bank by sending it to privatemonitoring@luminor.lv. The number of the consumer loan agreement must be included in the e-mail. If the loan agreement contains a clause on CO₂ emissions, the bank will check that the vehicle complies with this condition.

What should I do if I don’t meet the deadline set in the loan agreement?

Unfortunately, it’s not possible to extend the deadline for meeting the obligation under the consumer loan agreement, so please do not delay.

What are the consequences if I can’t fulfil the terms of the agreement?

If a copy/photo of the registration certificate of the motor vehicle purchased is not submitted to the bank within the deadline set in the consumer loan agreement, the interest rate set in the agreement will be increased. This will result in an increase of your monthly loan payment.

You were granted a consumer loan for a specific purpose, to buy real estate, and were given a lower interest rate. In addition to the standard lending terms of the agreement, you were required to register your property rights of the purchased real estate in the Land Register and inform the bank within 60 days of the loan being granted.

What steps do I take?

You need to buy the real estate and register the property rights in the Land Register in your name. You then have to inform the bank that you have fulfilled the special obligation by sending a free-form message to privatemonitoring@luminor.lv. The number of the consumer loan agreement must be included in the e-mail. Information on registering the real estate in the Land Register is available at zemesgramata.lv (see sections Recording of ownership in the Land Register, Frequently asked questions, Required documents). For more in-depth information on real estate transactions, please consult specialists (e.g. real estate agents, notaries, lawyers).

What should I do if I don’t meet the deadline set in the loan agreement?

Unfortunately, it’s not possible to extend the deadline for meeting the special obligation under the consumer loan agreement, so please do not delay.

What are the consequences if I can’t fulfil the terms of the agreement?

If you can’t buy the real estate and register the property rights in the Land Register within the deadline set in the consumer loan agreement, the interest rate set in the loan agreement will be increased. This will result in an increase of your monthly loan payment.

In case of financial leasing, you can see the remaining value in the last monthly invoice (below). If you have an operating lease, please write to lizings@luminor.lv and we will give you an answer.

You have to write free-form application with a request to prepare the final calculation. You can write the application using the Internet banking correspondence or by sending an e-mail to lizings@luminor.lv.

In case you make a full early repayment of the financial leasing, a proportional part of the leasing issuing fee will be automatically returned to your account for the period the leasing was not used.

For operating leasing agreements, the balance does not appear in the Internet bank because the Operating Leasing Agreement provides for the lease of the leasing object, returning the leasing object to the purchaser at the end of the period. Information about the monthly invoice appears in the Internet bank at the beginning of each month.

Added interest on the use of cash resources - this is the amount calculated for the use of the leasing object from the date of its delivery until the 1st day of the next month and is included only in the first monthly invoice.

It is important to understand which country you want to travel with a Luminor Leased vehicle. If the country is located in the territory of the European Union, European Economic Area and Schengen area, then the Lessee is entitled to leave without special consent or authorization of Luminor Līzings SIA, but in this case, the Lessee must make sure that the vehicle is insured in the relevant territory. If the country is not located in the EU, EEA or Schengen area, then the written consent or authorization of Luminor Līzings SIA must be obtained and the vehicle must be insured in the respective territory.

It should be noted that the Lessee must, among other things, comply with the laws and regulations of the country of entry regarding the terms of maintenance.

If you want to redeem the leasing object in your own name, you must write a free-form application in Internet banking correspondence or by sending an e-mail to lizings@luminor.lv with a request to prepare the final calculation of your contract. Once the payment has been received from you, you will be able to re-register the car in your name and further plan its sale to another person. The final calculation can be prepared immediately for a third party, in which case you must fill in the application and send it to us at lizings@luminor.lv. In this case, after receiving the payment from the third party we will be able to transfer the ownership of the leasing object to the buyer of your choice immediately.

When concluding the leasing agreement, you were also issued a payment schedule for the entire leasing period - based on this, you can plan your monthly payments. You can see the current month's billing information in your Internet banking, in the section Loans and leasing.

The answer is usually provided within one working day from the moment when all the requested information and documentation is submitted to Luminor Leasing.

Yes, we finance both machinery and various equipment, but in order to give you a specific answer, please fill in the leasing application on the website Leasing application for a natural person or Leasing application for corporate customer.

The maximum age of the car at the end of the financial lease term is 13 years, at the end of the operational lease term - 10 years.

We finance vehicles imported from abroad, but we evaluate each case separately.

In case of financial leasing, the leasing object becomes the property of the client, while in case of operational leasing the client leases the leasing object and the leasing object is repurchased by the buyer or the leasing object is purchased by the client (if Luminor Līzings SIA agrees).

Each client's request is considered individually, evaluating various aspects, so please fill in the application for a new lease Leasing application for a natural person or Leasing application for corporate customer, so that we can give you an accurate answer about the lease amount.

Within five working days after the payment of the last invoice, the information is automatically sent to the CSDD and an informative e-mail is sent to you, which describes all further steps for re-registration of the leasing object.

You have the opportunity to choose the option "other" and specify the car make.

We invite you to check the last payments made for the leasing object and compare them with the issued invoices. However, if you find a discrepancy, please contact the Customer Support Service by phone +371 67 17 1880.

We recommend that you apply for a consultation to find out about financing opportunities. The creditworthiness calculator can also help, click here. Without providing all the necessary information, no decision will be made.

An overpay/debt is an amount that is overpaid or overdue at the time of invoicing.

After fulfilling the obligations of the contract, “Luminor Līzings” SIA shall place a mark in the CSDD register, as well as inform the client by sending an e-mail with instructions on how and how fast the client must act.

In case of questions or uncertainties, the customers of Luminor Līzings SIA are invited to contact the Customer Support Service by phone +371 67 17 1880.