Purpose of Mortgage loan for nonlocal individuals
For financing purchases of residential real estate* in Bulgaria by individuals, which are foreign citizens or Bulgarian citizens which are not constant residents in the state having permanent labor contract with employer abroad.
* Foreign citizens can apply for financial purchase of real estates, offered only by the following investment companies (in Bulgarian)
Amount
Up to 70% of the market appraisal of the real estate accepted as collateral by the bank. The market appraisal is provided by licensed appraisers.
Tenor:
- 20 years for foreign citizens;
- 25 years for Bulgarian citizens.
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
Without one month interest rate on mortgage loan when new client is brought
Loan disbursement:
Disbursement period: up to 3 months since the loan contract is signed.
Type of disbursement: One-off or following an individual disbursement plan.
Repayment types:
Equal monthly installments (annuity loan) or decreasing monthly installments (equal installments of the principal).
Collateral:
- Mortgage of the purchased real estate at minimum accomplished stage of “rough construction” status (with issued Act 14 according to the Bulgarian Law).
- Blocked deposit of the customer with the Bank equal to 6 monthly installments (principal and interests) for foreign citizens.
- Blocked deposit of the customer with the Bank, equal to 3 monthly installments (principal and interests) for Bulgarian citizens.
- Every year the amount of the deposit can be reconsidered upon initiative of the client.
- Required insurance of the purchased real estate – the client may subscribe to the favourable conditions of Generali insurance administered by the bank.
Requirements towards the Borrowers
- Bulgarian citizens having permanent labor contract with employer abroad.
- Foreign citizens having permanent income abroad.
- Age requirement for the loan applicants: Age at loan final maturity date – 60 years for women, 65 years for men.
- The monthly installment (due principal and accrued interest) of the loan should not exceed 30% of the net monthly income of the loan applicant.
