Universal Mortgage Loan
Characteristics
Funding rate
IconUp to 70% of the property market value with full liability or up to 60% of the property market value with limited liability.
Purpose
Icon- Financing of individuals’ current needs
-
Purchase of office, shop, garage (in the cases where the garage is not a part of the residential property), land
-
Construction, repair and finishing work
- Refinancing of loans with similar parameters
Term
IconUp to 25 years, depending of the purpose
Currency
IconBGN or EUR
Interest rate
IconAnnual interest rate formed by reference interest rate representing market interest rate index for the relevant currency* increased by a fixed margin.
*Interest index for the respective currency - HTDI for BGN, EURIBOR for EUR
Type of instalments
IconAnnuity installments or equal monthly instalments on principal.
Collateral
Icon- Property mortgage
- Financial collateral arrangements
- Property Insurance of the collateral
- Life Insurance of the loan applicant
Frequency of repayment
IconMonthly
Method of interest calculation
IconActual number of days / 360
Frequency of absorption
IconOne-off payment or payment in instalments in accordance with the agreed absorption plan.
Need for Life Insurance
IconYes
Need for Property Insurance
IconYes
Requirements and Documents
What requirements should be met?
- Work experience of minimum 1 year
- Net income of minimum BGN 300 per month
- To be a regular payer of current loans
- Age at the expiry of the loan – up to 70 years
- First mortgage of the real property used as collateral
Required documents
Application documents depend on the client profile. In preparing them please follow the guidelines by the banking consultant.
- Loan application
- Documents required for consideration of the loan application
Application
How to apply?
- Visit the closest branch of UniCredit Bulbank and discuss your options with our consultant.
- Fill in the application for mortgage loan of individual clients.
- Provide an expert valuation by a licensed appraiser included in the list approved by the lender.
- Prepare the documents specified by the consultant as required for the specific transaction.
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