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Loan purpose
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Purchase, construction, additional construction or reconstruction of flat, house or business premises
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Purchasing construction land
- Purchasing real estate aboard
- Refinancing another housing loan
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Loan amount
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Depends on the client’s creditworthiness and mortgage value
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Down payment
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- minimum 26% from purchase price of an apartment if it is subject of mortgage
- minimum 15% from purchase price of an apartment if it is subject of mortgage and is purchased from construction companies the Bank has concluded Business Agreement with.*
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Loan term
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up to 18 years for purchase, construction or reconstruction of business premises
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up to 30 years for all other purposes
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Grace period
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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.
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Nominal interest rate
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Upon client choice:
Option 1
Fixed 2,9% p.a. for the first 3 years
5.9% p.a. variable, for the rest of the loan period (1- month EURIBOR + 5.9%, but not less than 5.9%)*
Option 2
Fixed 3.2% p.a. for the first 3 years
Fixed 3.9% p.a. for the next 3 years
4.9% p.a. variable, for the rest of the loan period (1- month EURIBOR + 4.9%, but not less than 4.9%)*
Option 3
Fixed 3.5% p.a. for the first 10 years
5.2% p.a. variable, for the rest of the loan period (1- month EURIBOR + 5.2%, but not less than 5.2%)*
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Annual rate of total expenses (RTE)
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Option 1:
- 5.32% p.a for purchase, construction, additional construction or reconstruction of flat, houseloan
- 5% p.a for purchase, construction, additional construction or reconstruction of business premises
Option 2:
- 4.42% p.a for purchase, construction, additional construction or reconstruction of flat, houseloan
- 4.17% p.a for purchase, construction, additional construction or reconstruction of business premises
Option 3:
- 4.24% p.a for purchase, construction, additional construction or reconstruction of flat, houseloan
- 3.89% p.a for purchase, construction, additional construction or reconstruction of business premises
(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 costs 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.
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Early repayment
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Free of commissionfor early partial or full loan repayment
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Criteria
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The monthly instalment should be covered by 1/2 of the applicant’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.
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The age of the Borrower should not exceed 70 years with the last monthly instalment
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Another 2 applicants may join the main loan applicant, who need not to be family related but must be creditworthy.
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Disbursement
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The funds from the loan are disbursed to:
1. The seller:
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when the seller is a legal entity
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when the seller is an individual, if the immovable property, which is subject to purchase/sale is put under mortgage
2. The Applicant:
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when the seller is an individual, if other immovable property is put under mortgage
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for adaptation and renovation
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Loan costs
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4,000.00 denars Fee for loan approval and administration (refinansing of the housing loans in other banks and in the Bank is free of charge)
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400 denars for loan application and processing
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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)
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Charges for property mortgaged evaluation (more on link)
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Notary compensation for pledge agreement solemnity, in accordance with the Notary tariff
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Charges for registration of the lien in favour of the Bank in the appropriate public book
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Charges for insurance policy for the pledge object against fundamental risks
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Repayment
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Security
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Mortgage on real estate in value up to 135% of the loan amount (the mortgage may refer to the property that is subject of purchase or another property in possession of the loan applicant or of another party. For purchase of real estate abroad, the property under mortgage must be exclusively in the territory of RNM)
- Insurance policy of the pledged immovable property assigned in favour of the Bank, being renewed through the overall loan validity
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Documents
required
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Copies of valid identity cards for all participants in the loan
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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)
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For pensioners – the latest pension cheque
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Notarized purchase/sale pre-agreement or complete technical documentation with approval for construction and amount of the funds needed
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Birth/marriage certificate for the borrowers
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Property specification sheet for the estate offered as security
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*Construction companies the Bank has business cooperation with
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Adora Inzenering Skopje
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Aksis Konsalting DOO Strumica
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Aktiva DOO Shtip
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Apeks Investment DOOEL Skopje
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Apeks Plus DOOEL Skopje
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Glic DOOEL Kicevo
- Golden Art Skopje
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Dabar Skopje
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Elita Invest Skopje
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ZSF DOOEL Skopje
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Kat Kostov DOO Skopje
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Hrising FS DOOEL Skopje
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Mega Kumanovo/Akustik Skopje
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Multi Ofis DOOEL Skopje
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Monteko Kompani DOO Tetovo
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Nastel Skopje
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Novogradba DOO Skopje
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Pelagonija AD Gostivar
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Pelagonija Strumica/Total Inzenering Strumica
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Porta Inzenering Grup DOOEL Skopje
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River Development DOOEL Skopje
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Rojal Vase Probishtip
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Sara - 4 DOOEL Skopje
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Turmak AD Istanbul- Skopje Subsidiary (Cevahir Sky City) – More
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UPM Grup/Hromak Kumanovo
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Florastat DOOEL Skopje
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Formlab DOO Skopje
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Hrising/Lutariko DOO Skopje
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Komercijalna Banka shall keep its discretion right to reject the loan application
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