Mortgage loan

It is common practice that the Bank, in case of non-payment of the loan, attempts to collect payment fromliquid assets of the borrower first, and then through a property (which is in most cases also in the interest of the borrower).

Yes, the client is required to be solvent (creditworthy) in order to obtain and repay a loan.

Solvency is defined as the ability of the client to obtain a loan and repay it, with interest, within the term stipulated in the loan agreement.

Loan collateral types are a lien (mortgage) over the property in a minimum ratio of 1: 1.5, with a fire insurance policy with a loss payable clause in the favour of the Bank and the borrower’s accident insurance policy. If the value of the property is insufficient, an additional property may be offered.
A debenture and the Seizure Consent of the Debtor will be required for all participants entering into a loan relationship.

This means that the value of the property must be 1.5 times as high as the amount of loan being approved.

It is intended for anyone who can offer a property as a loan repayment security instrument.

• higher loan amounts compared to a cash loan
• loan repayment with a fixed interest rate
• the possibility of financing personal projects for which specific purpose loans are not granted
• annuity maturity date on the first day of the month with a tolerance period until the 15th day of the month
• the possibility of full early repayment of the loan without paying the fee