PROJECT BUY-OUT (loans in other banks and MCO)
TERMS - SECURITY/COLLATERAL
Currently on offer BARGAIN TERMS for financings the following categories from only:
BOU-OUT OF HOUSING FINANCING / HOUSE RENOVATION
• Up to 20,000 KM, no guarantors
• from 20,001 KM to 25,000 KM, minimum 1 guarantor
• from 25,001 KM to 35,000 KM minimum 2 guarantors
• over 35,000 KM
Option I: mortgage over property of loan-to-value ratio 1:1.25
Option II: mortgage over property of loan-to-value ratio: 1:1 + minimum 1 guarantor
• Application processing fee: 1%, 1.75%, maximum 1,700 KM
• Obligatory participation minimum 1%
• MAX. FINANCING PERIOD 15 years
BUY-OUT OF CAR FINANCING
• Up to 15,000 KM pledge, no guarantors
• Up to 20,000 KM pledge + 1 guarantor
• Up to 35,000 KM pledge + 2 guarantor
• Application processing fee: 1%, 1.75%, maximum 1,700 KM
• Obligatory participation 1% of the amount of financing, minimum 100 KM
• MAX. FINANCING PERIOD 15 years
Required documentation
WHEN AN APPLICANT IS AN EMPLOYEE OF A PUBLIC INSTITUTION OR BUDGET ORGANIZATION
1. Financing application form (filled out and duly certified by employer)
2. Copy of registration of residence (CIPS form)
3.Copy of identity card
4. Attestation of income or salary list for the past three months
5. When the financing is approved the applicant is obliged to certify copy of identity card
and pledge registration form in the Municipality
WHEN AN APPLICANT IS EMPLOYED IN A JOINT STOCK COMPANY
1. Financing application form (filled out and duly certified by employer)
2. Copy of registration of residence (CIPS form)
3. Copy of identity card
4. Copy of M2 form
5. Salary list for the past three months
6. Current account statement for the past three months
7. When the financing is approved the applicant is obliged to certify copy of identity card
and pledge registration form in the Municipality
WHEN AN APPLICANT IS EMPLYED IN A LIMITED LIABILITY COMPANY
1. Filled out Application form and duly certified by employer
2. Copy of registration of residence (CIPS form)
3. Copy of identity card
4. Copy of M2 form
5. Salary list for the past three months
6. Salary specifications certified by Tax Administration office for the past 3 months
7. Current account statement for the past three months
8. When the financing is approved the applicant is obliged to certify copy of identity card
and pledge registration form in the Municipality
WHEN AN APPLICANT IS A RETIRED PERSON
1. Application filled out by Retirement and Disability Insurance Institute
2. Copy of registration of residence (CIPS form)
3. Copy of identity card
4. Pension checks for the last three months or an attestation of received pensions
5. When the financing is approved the applicant is obliged to certify copy of identity card
and pledge registration form in the Municipality
THE FOLLOWING SHOULD BE SUBMITED FOR REALIZATION OF FINANCING:
• Attestation of the outstanding amount of debt that is being bought-out
• Copy of Cadastral file or copy of car registration card
• If financing is secured by a mortgage over real estate, original of Cadastral file and 3 copies of appraisal of a court-appointed appraiser are required
• In case of car buy-out financing a copy of car registration card is required
• Statement declaring for what purpose have the funds been spent
• Financing processing fee: 0.50%; 1.25% or 1.75% of the amount of financing
• Obligatory participation 1% of the amount of financing
• When financing is approved to buy two blank promissory notes
• To insure real estate over the period of financing (if financing involves registration of a mortgage over real estate)
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