Purpose of financing
Construction / Completion of a residence
Purchase of a completed house or apartment
Home Repair / Improvement
Purchase of a land plot for the construction of a house
Guarantees
Mortgage prenotation on the property under purchase / construction / repair
Mortgage prenotation on a property that belongs to anyone involved in the loan
Cash commitment
Duration / Method of repayment
Duration up to 25 years
Repayment method with monthly or quarterly or semi-annual or annual installments of the loan plus interest, monthly or quarterly or semi-annual or annual installment of the loan with interest calculation per semester (30/6 & 31/12)
Type of interest rate
Floating interest rate, based on the Base Lending Rate (BLR) for mortgage and repair loans plus a spread that is determined depending on the creditworthiness of the debtor and the proposed guarantees.
Early repayment
Possibility of early repayment of the loan without any penalty / charge.
Costs
Request evaluation / examination costs: 3% of the loan (minimum 200€ and maximum 600€)
Mortgage prenotation costs: 550€
Property appraisal costs: 150€
Mortgage appraisal
The appraisal of the property that is prenotated in guarantee of the loan is necessary and is conducted by a certified appraiser, registered in the Register of Certified Appraisers of Law 4152/2013.
In cases of construction / completion, more appraisals are conducted to certify the progress of work.
Additional services
Compulsory fire and earthquake insurance for the mortgage property.
In case of insurance in an other institution other than the one proposed by the bank, the level of guarantee of the insurance policy must be corresponding to the one proposed by the bank.
Failure notice
In case of non-compliance with the obligations provided in the credit agreement, the following financial and legal consequences may occur:
Termination of the credit agreement
Initiation of legal / judicial actions for the collection of the debt
Burden of the debt by delinquency interest and judicial court costs
Liquidation of aany guarantees provided by the borrower or the other parties of the contract, who will still be liable for any outstanding balance of the debt, will be an compounded requisition of the bank at the current delinquency interest rate.
