Purpose

• Acquisition, refurbishment, extension, consolidation, construction of an immovable
• Refinancing a real estate investments loan
• Mixed destination - ex. purchase - refurbishment

 Beneficiaries

• Romanian/foreign citizens with or without  residence in Romania  

 Currency

•    Euro, Ron

Loan amount

•     Minimum 10.000 Euro or Ron equivalent, no maximum limit

 Advantages

• Loan tenor: minimum 5 years, maximum 35 years
• Maximum age at the end of the loan tenor: 67 years
• Financing up to 70% from the value of the property
• All types of incomes that can be justified with legal documents are taken into consideration
• Debt / income ratio up to 65%
• Any individual can participate as co-debtor
•  No analysis fee
• No monthly administration fee 
• No early repayment commission

Annual interest rate

• Variable interest rate based on  Euribor 3 months + bank's margin
  • Euribor 3 months + 5.95%
• DAE: 6.89% calculated for the first year for the amount of 100.000 Euro on 35 years, with equal monthly instalments (Euribor 3 months  =0.734 from 25.04.2012)  

Costs of the loan

• Analysis fee:  0%
• Monthly administration fee: 0%
• Early repayment commission: 0%
• Current account administration fee: 2.5 Lei
• Unique fee: 40 Euro or equivalent in Lei (for services provided at clients request during loan period)
• Evaluation fee for the mortgaged immovable
• Notary authentication fee for the sales and mortgage contracts
• Noting fee in AEGRM
• Insurance of the mortgaged immovable

 Loan reimbursement

• Equal monthly instalments or
• Decreasing monthly instalments

Collaterals

• First rank mortgage on a property belonging to the applicant of the loan or to a third party (immovable located in Romania )
• Movable mortgage on the assignment of the real-estate insurance policy 
• Movable mortgage on the monthly incomes for the loan participants
• Movable mortgage on current accounts opened at Bank of Cyprus Romania for all the loan participants