NBBL's guarantee fund

The guarantee fund Stiftelsen Borettslagenes Sikringsfond was founded in 1994 and offers housing co-operatives insurance to secure payments from residents. The residents are jointly liable for monthly maintenance fees, carrying charges and mortgage agreements entered into on behalf of the cooperative. If a resident fails to fulfil his/her obligations over a period of time, the unit will be sold – either voluntarily or through foreclosure. The Sikringsfond will reimburse the housing co-operative for missed payments.