Promotional period: from March 19, 2018 to May 31, 2018 (For applications submitted during the Promotional period).
FOR THE PROMOTIONAL PERIOD:
- 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.
- Refinance your mortgage loan and BACB will pay all related to the registration of the contractual mortgage notary and state fees.
- Interest rates of 3,00%;
- 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 31.05.2018;
- 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:
- 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
- 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.
- 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.
- with annuity monthly installments;
- with non-annuity monthly installments;
Interest Rate (per annum) for loans in BGN and EUR
for a loan amount over BGN 100 000 / EUR 50 000 and repayment term up to 10 years3.00% floating interest rate, based on 6 month SOFIBOR* (for BGN) or 6 month EURIBOR** (for EUR) plus fixed margin
for borrowers who have had the maximum social security level for last 5 months3.70% 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 higher4.00% 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 3994.20% floating interest rate, based on 6 month SOFIBOR* (for BGN) or 6 month EURIBOR** (for EUR) plus fixed margin
*As of 01.01.2018 the applied rate of the 6-month SOFIBOR was 0,163
** As of 01.01.2018 the value of 6-month EURIBOR is 0,000.
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.