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Product description
Adriatic Bank housing loan is intended for the purchase of a new flat or a flat under construction, for reconstruction or adaptation of property (house or flat) with a maturity of 1 to 10 years. The amount of housing loans can be granted for a 10% higher amount compared to the amount of the Purchase contract (if it does not affect the ratio of the estimated value of the mortgage assets and the amount of the requested loan). This difference can be paid directly to the client’s account.
Another advantage of Adriatic Bank housing loan is approval without life insurance policy of any loan participants if the last annuity is due before the age of 65.
- Most convenient method of calculating interest
- Maturity from 6 to 120 months
- Even for flats under constructions without additional collateral
Loan calculator
Loan calculator is for information only where total repayment amount includes only interest cost. All other expenses included in the loan processing are presented within representative example.
Conditions for loan approval
- Loan user should have permanent Labour Contract, opened and active account in Adriatic Bank
- Client must be a person older than 18 years, and the repayment of the last annuity should be completed before the age of 67
- Loan amount: Minimum 15,000.00€
- Loan processing fee from 0,5% to 2,00%
- For clients under the age of 65, life insurance policy is not needed in the moment of final installment maturity
- For clients whose loan is due after the age of 65, the life insurance policy is mandatory in the amount of ½ of the approved loan.
- First rank mortgage registered on the property in favor of the Bank
- Property insurance policy - assigned in favor of the Bank
Necessary documentation
- Duly fulfilled and signed Loan application form
- Verified and signed income confirmation
- Two administrative ban orders verified by the client's employer (if verified and executed by the employer)
- Signed consent for inquiry into Credit register
- Real estate purchase agreement with a clearly indicated seller's account, verified in the Court/or by Notary office if the real estate loan is approved.
- Evidence of paid fee for application in the Credit register
- Bill of exchange that may be bought at the Bank's teller and bill of exchange authorization
- A copy of passport or ID card with phone numbers and address (original document to be presented)
- Title deed on which the lien is registered, not older than 7 days from the day of documents delivery.
- Pro forma invoice for construction material or works if housing loan is approved for renovation
Detailed information
Housing loans | |
|---|---|
Annual nominal interest rate (NIR) | 4.95 % – 6.95 % (depending on Borrower’s category) |
Annual effective interest rate (EKS) | 5.41% |
Loan processing fee (charged one-off upon loan disbursement) | 0,50 % – 2,00 % |
Fee for data use from the CBCG credit register | 3.00 EUR |
Annual penalty interest | Nominal increased for 50% |
Maturity period | Up to 120 months |
Representative example | For housing loan amounting to EUR 50.000,00 EUR and repayment period of 120 months, nominal interest rate (NIR) shall amount 4,.95% while effective interest rate (EIR) shall amount 5.41%. The calculation of the effective interest rate (EIR) includes the nominal interest rate, one-time fee for loan processing of 0.50% of the loan amount (EUR 250.00), fee for 2 bills of exchange (EUR 4.00), fee for inquiry in the Credit Register of MN (EUR 3.00), cost of life insurance policy in amount of EUR 221.26 (Premium amount is paid once and depends on the client’s health condition), cost of creation a pledge statement (EUR 250), cost of obtaining the proof of ownership over real estate (EUR 5.00), the cost of inscribing a pledge on real estate (EUR 31.50), the cost of a property insurance policy (EUR 174.73), the cost of real estate evaluation (EUR 800), (Total amount: 1.019,99 EUR). Total amount which client shall pay is 64,352.33 EUR, while monthly annuity amounts to 526.45 EUR. Total amount which client shall pay represents sum of the principal, total interest and other fees concerning the loan approval. The amount of the premium of the life insurance policy is paid once and depends on the health condition of the client. The age is taken in the example where gender is male, 35 years. The surface of residential building taken as the example is 34 m2, with construction value of 700 EUR per m2. |