Drawdowns of holiday cottage loans declined in June 2026 from last year

In June 2026, households drew down new loans for the purchase of holiday homes (holiday cottage loans) to the value of EUR 94.7 million, which is 5.0% less than a year earlier in June. The drawdown volume was 12% lower than the average for June in 2011–2025. Overall in January–June 2026, holiday cottage loans were drawn down in the amount of EUR 355.9 million. This is slightly less than in the corresponding period in 2025 (EUR 371.0 million), but more than in 2024 and 2023.¹ The contraction in drawdowns from last year is explained by the smaller amount of the average drawdown, whereas the number of new holiday cottage loans drawn down in January–June 2026 actually increased slightly from a year earlier.² The demand for holiday cottage loans usually peaks in May–September, and June is typically the busiest month for drawdowns.

The average interest rate on new drawdowns of loans for holiday homes remained almost unchanged from May and stood at 3.31% in June. A year earlier in June, the average interest rate was lower (2.83%). As with housing loans, the majority of loans for holiday homes are linked to Euribor rates. In June 2026, 95% of new holiday cottage loans were Euribor-linked.

The most commonly used reference rate for holiday cottage loans is also the 12-month Euribor. As market interest rates have risen in recent months, however, the use of the 12-month Euribor as a reference rate has decreased while shorter Euribor rates have become more popular. In June 2026, of the new holiday cottage loans 48% were linked to the 12-month Euribor, 11% to the 6-month Euribor and 36% to the 3-month Euribor. In 2025, 68% of new holiday cottage loan drawdowns were linked to the 12-month Euribor.

In June, the stock of households’ loans for holiday homes contracted by 0.8% year-on-year. The year-on-year change in the stock was last negative in March 2025. At the end of June 2026, the stock of loans for holiday homes was EUR 4.4 billion. The average interest rate on the stock of holiday cottage loans was 3.11% in June, and 96% of the stock consisted of Euribor-linked loans.

Loans

In June 2026, Finnish households drew down EUR 1.3 billion of new housing loans, which is EUR 90 million less than in the same period a year earlier. Of the newly drawn housing loans, buy-to-let mortgages accounted for EUR 110 million. The average interest rate on new housing loans rose slightly from May and stood at 3.19% in June. At the end of June 2026, the housing loan stock totalled EUR 105.4 billion, and its annual change was -0.2%. Buy-to-let mortgages accounted for EUR 9.2 billion of the housing loan stock. At the end of June, the household loan stock included EUR 17.4 billion of consumer credit and EUR 17.9 billion of other loans.

Drawdowns of new loans by Finnish non-financial corporations in June totalled EUR 4.6 billion, including EUR 620 million of loans to housing corporations. The average interest rate on new corporate-loan drawdowns rose from May, standing at 3.85%. At the end of June, the stock of loans granted to Finnish non-financial corporations was EUR 110.8 billion, of which loans to housing corporations accounted for EUR 46.5 billion.

Deposits

At the end of June 2026, Finnish households’ aggregate deposit stock totalled EUR 118.1 billion, and the average interest rate on these deposits was 0.84%. Overnight deposits accounted for EUR 72.2 billion and deposits with agreed maturity for EUR 16.8 billion of the total deposit stock. In June, Finnish households made new deposit agreements with an agreed maturity in the amount of EUR 1.4 billion, at an average interest rate of 2.54%.

Further information:

Rasmus Pekkala, tel. +358 9 183 2724, email: rasmus.pekkala(at)bof.fi.

The next news release on money and banking statistics will be published at 10:00 on 28 August 2026.

Related statistical data and graphs are also available on the Bank of Finland website: https://www.suomenpankki.fi/en/statistics/.

The statistical data are also available via an API from the Bank of Finland’s open data portal. For details, see https://www.suomenpankki.fi/en/statistics/open-data/.

¹ Drawdowns in January–June amounted to EUR 292.8 million in 2024 and to EUR 300.2 million in 2023.

² Source: Positive credit register