| Loan purpose |
- Purchase, construction, additional construction or reconstruction of flat, house or business premises
- Purchasing construction land
- Refinancing another housing loan
|
| Loan amount |
Depends on the client’s creditworthiness and mortgage value |
| Loan term |
for denar loan
- up to 12 years for purchase, construction or reconstruction of business premises
- up to 20 years for all other purposes
for denar loan with Eur clause
- up to 18 years for purchase, construction or reconstruction of business premises
- up to 30 years for all other purposes
|
| Grace period |
Possibility of a grace period of 12 months. The Bank shall calculate and charge only grace period interest for the duration of the grace period. |
| Nominal interest rate |
8.0% annual, variable for denar loan
6.65% annual, variable for denar loan with Eur clause
|
| Annual rate of total expenses (RTE) |
from 8.39% to 8.43% p.a. for denar loan
from 6.97% to 7.02% p.a. for denar loan with Eur clause
(RTE extent depends on the loan repayment period, loan amount, the amount of the loan costs that are included in the calculation of RTE and the extent of the nominal interest rate). Notary costs, the costs for registration of the lien in the appropriate public register and the cost of insurance of the pledged immovable property against fundamental risks are not included in the calculation of RTE and are on the account of the borrower.
|
Early repayment |
Free of commission for early partial or full loan repayment |
| Criteria |
- for borrowers with monthly salary of less than 30,000 denars monthly instalment should be 1/3 of the borrower s monthly net-income, and for borrowers with monthly income higher than 30,000 denars monthly instalment should be 1/2 of the borrower s monthly net-income. Other annual or monthly incomes that are subject to taxation, in accordance with the Law on Personal Income Tax, and may be documented, shall also be considered as monthly incomes.
- The age of the Borrower should not exceed 70 years with the last monthly instalment
- Another 2 applicants may join the main loan applicant, who need not to be family related but must be creditworthy. When calculating the creditability of the co-borrowers that are not members of the closest family of the borrower, but receiving their salary on transaction account with the Bank, 100% of co-borrowers’ free monthly incomes shall be taken into account. Otherwise, only 1/2 of co-borrowers free monthly incomes shall be taken into account.
|
| Disbursement |
The funds from the loan are disbursed to:
1. The seller:
- when the seller is a legal entity
- when the seller is an individual, if the immovable property, which is subject to purchase/sale is put under mortgage
2. The Applicant:
- when the seller is an individual, if other immovable property is put under mortgage
- for adaptation and renovation
|
| Loan costs |
- 0.5% on the loan amount for denar loan or 1% on the loan amount for denar loan with Eur clause (minimum 500 denars, maximum 150,000 denars) - fee for loan approval and administration
- 300 denars for loan application and processing
- Charges for the grace period interest (the grace period interest rate is calculated from the date of disbursement of funds till the date of commencement of repayment at interest rate equal to the interest rate of the loan)
- MKD 2,000.00 for property mortgaged evaluation (for each individual evaluation)
-
Notary compensation for pledge agreement solemnity, in accordance with the Notary tariff
-
Charges for registration of the lien in favour of the Bank in the appropriate public book
-
Charges for insurance policy for the pledge object against fundamental risks
|
| Repayment |
- monthly instalments
- maturity of annuity - on the 16th day of each month
|
| Security |
- Mortgage on real estate in value from 120% to 140% of the loan amount (the mortgage may be related to the property subject of purchase or to the other property owned by the applicant or by other person)
- Administrative ban on salary
- Insurance policy of the pledged immovable property assigned in favour of the Bank, being renewed through the overall loan validity
|
| Documents required |
- Loan application
- Copies of valid identity cards for all participants in the loan
- For employees in private companies acceptable for the Bank, form PP53 (Declaration for receipt from PRA) for the previous three months and solvency of the giro account with the bank they are clients to (for clients of the Bank solvency is not required)
- For pensioners – the latest pension cheque
- Notarized purchase/sale pre-agreement or complete technical documentation with approval for construction and amount of the funds needed
- Birth/marriage certificate evidencing relation with the co-applicants
- Property specification sheet for the estate offered as security
|
| Komercijalna Banka shall keep its discretion right to reject the loan application |