Purpose:

• for purchase of real estate – flat/house under purchase pre-agreemen;
• for construction (extension) to individual structures with construction license and adequate design;
• for refinancing housing loan in other banks.

MAXIMUM AMOUNT:

Depending on the real estate value under purchase pre-agreement/agreement reduced by own participation amount;

25% own participation / possibility of participation free with a proportion 2/1 against the mortgage value, of which purchased real property is mandatory / own participation is not required for refinancing loans.

REPAYMENT PERIOD:

- up to 360 months;

Application costs – MKD 700.00.

Commission for approved loan:

• MKD 500.00 for managers of companies or their related entities who have over MKD 60,000,000.00 deposit in the Bank;
• 1% for other persons;
• 0% for refinancing.

Prepayment fee:

• commission free for prepayment of up to 20% of the remaining portion of the loan principal in the current month;
• 3% of prepaid loan principal for amounts over 20% of the remaining portion of the loan principal.

• ½ creditworthiness (annuity/salary);
• possibility of including not more than one loan applicant (close family member);
• age limit – maximum 75 years of age on the loan maturity date.

COLLATERAL INSTRUMENTS:

Draft and draft endorsement, attachment of salary*/standing order for pensioners, insurance policy of the real estate assigned in favor of the Bank and one of the following options offered:

1/ minimum 25% participation and mortgage on the flat or house (subject to purchase). If owned by JSC for construction and housing and business premise management important for the state, pending property list on the name of the buyer, after approval, and pending realization of the loan, the borrower(s) are obliged to solemnize the Loan Agreement at Notary Public. After obtaining a property list, the buyer(s) is/are obliged to establish a mortgage on the real estate in favor of the Bank;

2/ mortgage on the real estate in proportion 2:1 against the loan value, of which purchased real property is mandatory;

3/ in case of refinancing housing loans to other banks, the property subject to purchase shall be collateral, or mortgage on another real estate in proportion 2:1 with possible extension of the repayment period, maximum 360 months.

5.00% fixed interest rate in the first 5 years (annually) in case of regular repayment, i.e. not later than 30 days of the loan maturity date;

6.95% adjustable interest rate after the fifth year, it the borrowers regularly service their loan obligations, i.e. not later than 30 days of the maturity date of the annuity;

7.632% adjustable interest rate after the third year as well as in the first three years, if the loan is not regularly repaid, i.e. the borrower is in delay of one or more annuities.

* If the employer’s policy is to not verify attachment of salary, mandatory solemnization of the agreement with enforcement clauses is necessary.