LOAN IN CROATIA

PURPOSE OF LOAN:

  • purchase of real estates in the Republic of Croatia

 

LOAN AMOUNT:

  • 50.000,00 – 300.000,00 EUR

 

LOAN REPAYMENT PERIOD:

  • up to 15 years 

PRECONDITIONS FOR THE LOAN PARTICIPANTS (LOAN APPLICANT and CO-DEBTOR):

Foreign citizens who are not residing in the Republic of Croatia:

  • citizens of the Republic of Austria and Germany;
  • citizens of those countries, in which The Bank is holding subsidiaries;
  • citizens of those countries, in which the shareholder banks of the Bank are holding subsidiaries;

I) Group are holding subsidiaries;  

  • the age of all loan participants must not exceed the age of 65 years in the moment of the repayment of the last annuity.

Saver status is not required.

 

LOAN CURRENCY:

  • foreign currency clause pegged to the EUR

 

LOAN USAGE:

The loan is disbursed in HRK-counter value by the middle rate of the CNB (Croatian National Bank) for foreign currencies.

  • the Bank pays out 100% of the approved loan onto the account of the seller of the real estate, this after the loan user has paid in a minimum of 30% of the selling price (for citizens of the Republic of Austria and Germany and for the citizens of those countries, in which the Bank is holding subsidiaries) i.e. 40% of the selling price (for citizens of those countries, in which the shareholder banks of the Bank are holding subsidiaries) from own funds onto the account of the seller of the real estate.

The loan utilization period is 3 months to the latest as of the day of entering the Loan agreement.

INTEREST RATE: 8.10% per annum, variable

 

SECURITY DEPOSIT: in the amount of 5 monthly annuities. No interests are calculated for the deposit, which is deposited on a foreign currency account opened and processed with the Bank until final repayment of the loan.

 

LOAN FEE: 1.50% of the approved loan, one-off payment.

It is possible to deduct the amount of the fee from the loan amount.

 

LOAN REPAYMENT:

In monthly annuities expressed in EUR by the middle rate of the CNB valid on the day of the maturity of the annuity.

 

EXAMPLE OF LOAN CALCULATION

 

Loan amount  (in EUR) Interest rate Effective interest rate Repayment period Number of annuities Annuities (in EUR) Aggregated amount of principal, interest and cost per loan (in EUR)
50.000,00 8,10% 8,84% 15 years 180 480,72 88.029,60

 

LOAN COLLATERALS:
  1. certificate on consent for the pledge of all personal accounts of the debtor opened in the Republic of Croatia (certified by a public notary);
  2. certificate on consent for the pledge of all personal accounts of the debtor opened with the DOMICILE bank of the debtor (certified by a public notary; the official form must be submitted by the domicile bank)*;
  3. blank bills of exchange, drawn up in accordance with Croatian laws, signed by all loan participants;
  4. blank bills of exchange, drawn up in accordance with the laws applicable in the domicile state, signed by the debtor;
  5. insurance policy against fire and other risks for the real estate, established as a collateral and vinculated in favour of the Bank;
  6. security deposit in the amount of 5 monthly annuities, deposited on a foreign currency account opened and processed with Bank  until final repayment of the loan.
  7. mortgage on the real estate which is to be purchased from the loan; the ratio between the loan amount and the value of the real estate must be a minimum of 1:1,43 (for citizens of the Republic of Austria and Germany and for the citizens of those countries, in which the Bank  is holding subsidiaries) i.e. 1:1,67 (for citizens of those countries, in which the shareholder banks of the Bank  are holding subsidiaries).

*conditioned for domicile countries with a legal system comparable to the Croatian

 

ASSESSMENT OF CREDITWORTHINESS:

  • monthly income of loan user – the income must be three times higher than the annuity and all other existing suspensions, if any.

Not more than one person (co-debtor) can add his/her income to the loan applicant’s creditworthiness.

  • loan user and co-debtor: 1/3 of the aggregated disposable monthly income of the loan user and the co-debtor must cover at least one monthly annuity.

 

REQUIRED DOCUMENTS:

  • Loan application
  • form “Basic data” for the co-debtor
  • confirmation of the employer on employment and the amount of salary for the last three months, translated by a certified court interpreter and verified with a public notary
  • last three pay rolls, translated by a certified court interpreter and verified with a public notary
  •  confirmation of the domicile bank on the account balance, translated by a certified court interpreter and verified with a public notary
  • photocopy of the passports of all loan participants or of another personal document proving the identity of the loan participant
  • preliminary agreement or sales agreement (prior to the utilization of the loan, the original copy of the sales agreement, verified with a public notary on the side of the seller, must be delivered to the Bank)
  • the excerpt from the land register for the real estate to be pledged and which is to be purchased from the loan must not be older than 30 days
    The real estate, on which the mortgage is established, must be entered in the land register; no encumbrances must be entered in the register, neither by private or legal persons (except a lien for the purchase of the tenancy right).
  • expert opinion on the estimated value of the real estate to be pledged, with photographs of the real estate taken by a court appointed expert by the choice of the customer. When the real estate to be purchased is a new real estate, the price from the sales agreement is considered to be the value of the object (no expert opinion on the estimated value of the real estate is required in such cases)
  • photocopy of the court’s decision on the appointment of the court appointed expert

These conditions are provided exclusively for information purposes. .Bank reserves the right to demand additional documents, if necessary.

 

Note: the Bank reserves the right to reject the loan application without explanation.

This information is part of the General Terms and Conditions of Bank .

 

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