Welcome
HOUSING LOANS WITH SUBSIDY OF THE REPUBLIC OF SERBIA
The main conditions that a natural person – the Banks retail client should fulfill in order to apply for the subsidized housing loan are the following:
- That he/she is a citizen of the Republic of Serbia with the place of residence in the territory of the Republic of Serbia
- hat he/she is not younger than 23 or older than 45 at the moment of applying for a loan, or older than 70 at maturity of the last monthly annuity
- That the loan beneficiary and his/her spouse are not 100% owners of housing. If they own any property they can get a loan for the purchase of housing only in the amount that is the difference between the value of the housing they own and the value of the housing they buy
- That the loan beneficiary, as well as his/her spouse has no other housing loan outstanding, except for a loan for adaptation
- That net monthly income of the loan beneficiary and his/her spouse does not exceed RSD 120.000,00.
Conditions related to the purpose of lending:
- The property which is the object of the purchase may be exclusively a new-built object or object under construction, whilst the borrower undertakes to buy the property only from the investor.
- Loan can be approved for the construction of the property provided the borrower is registered as the investor in the valid construction approval.
| Loan amount |
Depends on the borrowerys creditworthiness. Maximum loan amount EUR 100.000. |
| Currency of loan |
978 - EUR |
| Banks loan amount |
75,00% of property purchase price or request price or requested loan amount |
| Subsidy of the Republic of Serbia | 15,00% of property purchase price or requested loan amount |
| Down payment | 10,00% of property purchase price or requested loan amount |
| Purpose |
- Purchase of newly constructed building or building in consturction - Construction of building |
| Overal maturity |
6 - 30 years |
| Maturity of Banks loan | 1 - 25 years |
| Maturity of subsidized loan amount | Last 5 years of repayment period |
| Grace period | Up to 12 months* |
| Interest rate on Banks loan (fixed,annual) |
6M EURIBOR + 4.9% p.a. |
| Interest rate on the loan from the RS budget |
0% p.a. with no interim interest |
| Fee | 0.5% in a lump sum |
| Fee of National Mortgage Insurance Corporation |
Fixed fee: 30,00 EUR
Percentage fee: 1.50% LTV ratio lower than or equal 70,00 2,50% LTV ratio greather than 70,00, but lower than or equal 80,00 3,50% LTV ratio greather than 80,00, but lower than or equal 90,00
Fee increases by: 0,25% if beneficiary has no life insurance; 0,50% if the collateral is a mortgage on unregistered real estate; 0,15% if the collateral for the loan is a mortgage legalized in accordance with Low of planning and constructing
Depends on the borrowers creditwothiness, fee increases by: 0,50% if debt/sallary ratio is equal or greather than 60,00 1,00% if debt/sallary ratio is equal or greather than 70,00 1.50% if debt/sallary ratio is equal or greather than 80,00 |
| Security |
-Two (2) promissory notes - first mortgage assingned in favour of the Bank and RS - insurance of the property of construction value aganist basic risks and additional risks of water flow with the policy asigned in favour of the Bank and RS - loan insurance with NMIC |
* The clients who use loan funds for construction or purchase of facilities under construction are entitled to grace period.
Representative example - on date 05.12.2011.
| Loan caracteristics |
LTV ratio 75,00 Debt/sallary ratio with new annuity 65,0% Object is legalized
Without life insurance
* all fees are calculated upon FX course EUR/RSD on 05.12.2011. |
| The value of the property that is being purchased | 50.000,00 EUR |
| Down payment of the borrower 10,00% | 5.000,00 EUR |
| Loan subsidized by Rebuplic of Serbia | 7.500,00 EUR |
| Loan amount | 37.500,00 EUR |
| Annuity | 251,04 EUR |
| Maturity | 25 godine |
| Nominal interest rate |
6,599% p.a. (calculated upon 6mEURIBOR value on 02.12.2011. that is 1,699% p.a. plus 4,90% fixed part of i.r.) |
| Colateral | Promissory note and mortgage |
| Banks fee | 19.395,32 RSD (0,50%, 187,50 EUR) |
| NMIC fees |
3.103,25 RSD (30,00 EUR, fixed fees)
96.976,59 RSD (2,50%, 937,50 EUR, LTV=75,00)
9.697,66 RSD (0,25%, 93,75 EUR)
19.395,32 RSD (0,50%, 187,50 EUR, debt/sallatory debt >60)
|
| Other fees regarded to collateral |
205,00 RSD - Credit birou 100,00 RSD - 2 promissory note
10.344,17 RSD - Assesment (100 EUR) 1.034,42 RSD - (10 EUR) 550,00 RSD - Legal fees 15.758,13 RSD - Registration of mortgage (0,2%+8.000din) 4.137,67 RSD - Insurance of morgage (40 EUR)
|
| Total repayment amount | 75.488,28 EUR |
| Efecitve interest rate | 7,15% p.a. |
(032) 302 169, 302 105, 302 293, 320 652
krediti.stanovnistvo@cacanskabanka.co.rs