„A Dream Come True“ Mortgage Loan with Promotional Proposals

Promotional period: from October 16, 2017 to December 31, 2017  (For applications submitted during the Promotional period).

FOR THE PROMOTIONAL PERIOD:

  1. Take a new Mortgage loan for the purchase of property and BACB will give you the opportunity to make one of your ideas come true by giving you a cash present of up to BGN 700.
  2. Refinance your mortgage loan and BACB will pay all related to the registration of the contractual mortgage notary and state fees. 

More:

  • Interest rates of 3,70%;
  • An option for a grace period on the principle;
  • FREE registration for Virtual Bank BACB Plus, the first Virtual bank in Bulgaria

The mortgage loan called„A Dream Come True“  is for:

  • Purchase of ready-to-move in (having an occupancy permit) real estates;
  • Improvements and renovation of real estates with occupancy permit. 
  • Purchase or exchange of real estates from state, departmental or municipal housing.
  • Refinancing of mortgage loans of the applicant or third physical entity, disbursed by other banks;

Terms to get a cash present up to BGN 700:

  • Loan requests submitted up to 31.12.2017;
  • Purpose of the loan: purchase of a real estate property;
  • Agreement signed and utilization of the loan;
  • Minimum loan amount – BGN 46 000 / EUR 23 000;
  • Minimum loan term – 5 years /60 months/;
  • Amount of the cash present:
    For BGN:
         - when the loan amount is from BGN 46 000 to BGN 99 999,99 – BGN 300;
         - when the loan amount is from BGN 100 000 to BGN 299 999,99 – BGN 500;
         - when the loan amount is over BGN 300 000 – BGN 700
    For EUR:
        - when the loan amount is from EUR 23 000 to EUR 49 999,99 – EUR 150;
        - when the loan amount is from EUR 50 000 to EUR 149 999,99 – EUR 250;
        - when the loan amount is over BGN 150 000 – EUR 350

Currency: BGN, EUR

Maximum Term: up to 35 years (420 months)

Maximum Amount: up to BGN 500 000 / EUR 250 000 and

  • up to 85% of the market value/the purchase price of the collateral, if the applicant is liable with all his properties;
  • up to 70% of the market value (the purchase price) of the collateral, if the applicant is liable for the loan only with the value of the real estate, offered as of the collateral.

Collateral:

  • A real estate;
  • Pledge on receivable under account/deposit in BGN and other currency, opened at BACB, owned by the loan applicant or third physical entity.

Grace Period on principal: There is an option to use a 6-month grace period on the principal in the first year of the loan and another 6-month grace period on principal but after the first year.

Repayment: 

  • with annuity monthly installments;

    or
  • with non-annuity monthly installments;

Interest Rate (per annum) for loans in BGN and EUR

for borrowers who have had the maximum social security level for last 5 months
3.70% floating interest rate, based on 6 month SOFIBOR* (for BGN) or 6 month EURIBOR** (for EUR) plus fixed margin
for borrowers with gross income over BGN 1 400 and higher
4.00% floating interest rate, based on 6 month SOFIBOR* (for BGN) or 6 month EURIBOR** (for EUR) plus fixed margin
for borrowers with gross income below BGN 1 399
4.20% floating interest rate, based on 6 month SOFIBOR* (for BGN) or 6 month EURIBOR** (for EUR) plus fixed margin

* As As of 01.07.2017 the value of 6 month SOFIBOR is 0,2700.
** As of 01.017.2017 the value of 6-month EURIBOR is 0,0000.

Fees and commissions:

  • Fee for Preliminary valuation of income - BGN 50;
  • Loan application fee - BGN 130, payble at two stages:
    - upon submission of documents – BGN 50; 
    - upon signing the contract – BGN 80;
  • Early repayment fee - 1% of the early repaid amount of the loan, when the loan is repaid prior to the repayment of 12 monthly installments of its utilization;
  • Fee for preparation of notary deed – BGN 80
  • Fee for appraisal and assessment of collateral - as per List of terms and conditions of BACB;
  • Fee for preparation of an agreement for the deletion of the mortgage - according to the Bank’s tariff;
  • real estate insurance , payable by the borrower.

 

Calculator

Loan amount in BGN
Term of the loan in months
Interest Rate 4.00%
Monthly installment х BGN
Total amount to be returned (excluding tax) BGN
Loan amount in BGN
Term of the loan in months
Interest Rate 4.20%
Monthly installment х BGN
Total amount to be returned (excluding tax) BGN

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