Preferential Mortgage Loan

The preferential mortgage loan is for the purchase of:

  • Purchase of real estates, which construction is financed by BACB;
  • Purchase of real estates, property of BACB or its subsidiary 

More:

  • Interest rate of 2.7%
  • No fee for loan application;
  • No fees for appraisal and assessment of collateral;
  • An option for financing if ACT 14 is present;
  • An option for preliminary approval as per income – NO fee;
  • An option for a grace period on the principal;
  • High amount of financing;
  • For each new borrower -FREE registration for Virtual bank BACB plus, the first virtual bank in Bulgaria.

Maximum Term: up to 35 years (420 months)

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

  • up to 90% 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, owned by BACB (or its subsidiary) or which construction is financed by BACB;.
  • Pledge on receivable under deposit/account in BGN and/or other currency, opened at BACB, owned by the applicant or third physical entity.

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

Repayment:

  • with annuity monthly installments;
  • with non-annuity monthly installments (equal on principal)

Interest Rate (per annum)

A loan amount over BGN 100 000 and a repayment term of up to 10 years
2.70% floating interest rate, based on Base Interest Rate(BIR)* (for BGN) or 6 month EURIBOR* (for EUR) plus fixed margin
In all other cases
3.40% floating interest rate, based on Base Interest Rate(BIR)* (for BGN) or 6 month EURIBOR* (for EUR) plus fixed margin

*As of 01.07.2019 the value of BIR is 0,0000.
**As of 01.07.2019 the value of 6 month SOFIBOR is 0,0000.

Fees and Commissions:

  • No fee for Preliminary valuation of income 
  • Loan application fee – No fee;
  • Fee for approval – No fee;
  • 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 an agreement for the deletion of the mortgage - according to the Bank’s tariff;
  • Real estate insurance – payable by the  borrower

 

Documents

Calculator

Loan amount in BGN
Term of the loan in months
Interest Rate 2.70%
Monthly installment х BGN
Total amount to be returned (excluding tax) BGN
Loan amount in BGN
Term of the loan in months
Interest Rate 3.40%
Monthly installment х BGN
Total amount to be returned (excluding tax) BGN