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News: Bulgaria>> BG banks mortgage loans for brick-built constructions

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Current date: 2010-02-09 10:44

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BG banks mortgage loans for brick-built constructions

Finances: Friday, 2009-01-23 05:30
Article by: Focus Agency

The following offers are valid for brick-built constructions only, The Politika Weekly reminds:

Piraeus Bank
The bank requires income insurance from the applicant in order to issue Repair and finishing works loans, but it has no specific criterions for the amount of the monthly salary. The installment for the repair of a brick-built construction must be equal to 80% of its market value, and for panel constructions to 50%. The repayment term is of up to 20 years with 7.6% interest for the whole period for loans in BGN and 8.3% for loans in EUR. The age of the applicant must not be over 70 years at the end of the credit period.

MKB Unionbank
Credits are not granted to individuals who have less than 23 years. There is a processing and documentation fee of BGN 50. An obligatory inspection of the property is carried out. The percent of interest is 13,15 for EUR and 15,45 for BGN. The monthly installment must be equal to 50% of the net profit of the client. There are no requirements for the amount of income. The maximum repayment period is 35 years. The bank offers gratuitous Life and Estate insurance.

DSK Bank
The property market value must cover 70% of the loan. The credit is issued for a maximum period of 30 years. The percent of interest is 9.79% for credits in BGN. The loan cost may be reduced with 1, 5% if two communal services are financed at the sam time.

Eurobank EFG (Postbank)
The bank issues Repairs and finishing work loans for a maximum repayment period of 35 years. The presentation of documental prove for the applicant’s income is obligatory. If the amount of the credit does not exceed 50% of the property market value, the interest is 9,8% for credits in EUR and 11,7% for loans in BGN. The interest due whenever more than 50% of the estate value is financed is 10,30% for credits in EUR and 12,20% for loans in BGN. The age limit for a credit applicant is 65 years. His monthly income must not be less than BGN 500. The maximum credit amount is EUR 10 000.

Raiffeisenbank
The credit term is 5-7 years with 10,45% interest for loans in BGN. The installment must not exceed 45% of the applicant’s monthly income. If more than BGN 30 000 are provided, the mortgage of property is obligatory. Credits are not issued to individuals over 65 years by the end of the loan term. The bank offers insurance of credit installments.

UniCredit Bulbank
The amount of the credit covers a maximum of 80% of the reconstruction expenses. The repayment term is 25 years. The annual percent of interest is 10,88 for credits in BGN and 10, 38% for loans in EUR. The property as well as the client must be insured. The bank is willing to take up the expenses for the obligatory Life insurance. The monthly salary of the credit applicant must not amount less than BGN 200. There are different age requirements for men and women. Male customers must not be over 60 years and female clients must not have turned more than 63 years by the end of the credit period. In order for a loan applicant to be approved, he must receive his salary through an account in UniCredit Bulbank.

Scope: Bulgaria
More: Finances news banks Bulgaria; Finances news mortgage loan Bulgaria;

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