Purpose of the Loan
For financing the purchase of a new housing estate while part of the extended credit will be repaid by funds received after the sale of another housing estate owned by the borrower and currently offered for sale.
The borrower has the option of premature repayment of the loan by the funds received after the sale without any fee for premature repayment to be collected by the bank within 12 months period following the loan contract signing
Amount
- Up to 85% of the market appraisal of the housing estate to be purchased for the towns of Sofia, Plovdiv, Varna, Bourgas, Rousse, Pleven, Stara Zagora, Veliko Tarnovo, Blagoevgrad;
- Up to 80% for the rest of the towns in the country;
- Up to 60% for panel flats.
Tenor
Up to 35 years
Interest Rate
Annual interest rate comprising a base interest rate (market indices SOFIBOR, EURIBOR, LIBOR + premium) plus margin
Fees and Commissions
According to the Tariff of UniCredit Bulbank for Individuals
Discounts
Applicable to clients of package programs of the Bank
Collateral
- The credit may be guaranteed by mortgage on the real estate under purchase/construction via credit financing, or by mortgage on another real estate, owned by the borrower or by tier party.
- A life-insurance of the borrowers and a property insurance of the collateral are required;
- The bank may incur the payment of the required insurance (property insurance or life-insurance) in case it has signed a centralized bancassurance contract to serve its borrowers and the specific borrower is approved for insurance under the terms of this contract by the insurer company.
Requirements Towards the Borrowers
- Minimum 6 months of work experience, respectively 12 months of practice for single proprietors and free lancers;
- Minimum net monthly income of BGN 200 (net income = gross income – taxes and social insurance installments);
- The age of the borrower at the loan maturity date to be below 70.
