Mortgage finance parameters
for purchasing immovable property by citizens of EU, USA and
Canada
|
Purpose
|
Buying property
|
|
|
|
Client segment
|
Natural persons, citizens of the countries of EU, USA and
Canada
|
|
Channels of sale
|
Agencies, construction companies, branches
|
|
Currency
|
EUR
|
|
Self-participation
|
40%
|
|
Minimum amount
|
7 500 EUR
|
|
Maximum amount
|
150 000 EUR
|
|
Maximum term
|
10 years
|
|
Age restrictions
|
23 years minimum,
65 years maximum by the end of the
term
|
|
Interest rates
|
0.9% for the first
year*
7.65% for the
remaining 9 years
or
5.9% for the first 3
years*
7.65% for the remaining 7 years
|
|
Management fee
|
1% one-off payment at credit disbursement, 0.5%
of the remaining principal sum per annum
|
|
Collateral
|
Pledge of property in favor of the bank
|
|
Insurance
|
Property insurance
|
*The promotional
interest rate is valid for all applications filled in by end of
November 2006
All
application documentation must be submitted in Bulgarian or English
officially translated by a sworn translator and accompanied by
apostille.
Documents for mortgage
loan application required by the bank:
Income documentation:
1.
Application form (form provided
by the bank);
2.
Income verification documentation:
2.1.
In case of
labour relations –
declaration of the
amount of earnings
and term of
applicant’s work
contract (form provided by the bank);
2.1.2.
Work contract;
2.1.3.
Income tax form
(for the preceding
tax period);
2.1.4.
Bank excerpt for
the past six
months issued by
the bank servicing
the applicant;
2.1.5.
Written statement from the Central Credit Register for the
past two years
(P-60’s).
2.2. In
case of unearned income available:
2.2.1.? Income tax
form (for the
preceding tax
period);
2.2.2.
Current report on income and expenditure;
2.2.3.
Bank excerpt from
personal and company
accounts for the
past six months
issued by the
bank servicing the
applicant;
2.1.4.
Written statement from the Central Credit Register for the
past two years
(P-60’s).
