Terms
Amount
Up to 90% of the market value
Currency
BGN or EUR
Loan term
Up to 30 years
Advantages
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You can purchase a residential property which construction is not yet completed and is financed by Tokuda Bank.
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Possibility of financing if Act 14 (approval of the building shell by a construction inspector) has been issued.
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Possibility of prior approval based on income, valid for 3 months from the date of approval and issue of a letter of approval of credit limit.
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Option of having a grace period on the principal – up to 12 months from the signing date of a bank loan contract.
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Property insurance may be concluded with a selected insurer by the borrower.
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Loan with no early repayment fee – after 12 loan payments have been made.
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Choice of repayment plan – annuities, decreasing instalments or individual repayment plan.
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Option of paying the review and analysis fee in two instalments.
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No fee for the preparation of a legal opinion on the loan.
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Possibility of preparing a draft mortgage deed/legal mortgage registration application – the cost is included in the loan APR.
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Without requiring the conclusion and maintenance of Life, Accident or Credit Insurance.
Requirements
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The loan applicant must have worked for their current employer for at least 6 months.
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The loan applicant must receive provable regular income.
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You must have a history of regular payments on your existing loans.
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First-ranking mortgage on the property serving as collateral.
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The loan applicant’s age must not be more than 65 years when the loan term expires.
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Loan applicants who will be more than 65 years of age at the end of the loan term must fulfil the following additional terms:
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Secure a co-debtor on the loan who is over 18 when applying for the loan and will be below 65 at the loan maturity date.
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When the loan applicant reaches 65 years, the remainder on the loan must be no more than 35% of the individual valuation of the collateral
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How to apply
Discuss the transaction with one of our consultants. Complete a loan application form and prepare the required documents.
Complete the online enquiry form and one of our consultants will get back to you.
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Copy of the loan applicant’s ID card.
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Preliminary sale and purchase agreement with the builder of the residential property whose construction is financed by the Bank.
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Declaration regarding related persons – in the Bank’s standard form, if applicable.
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Declaration of relationship in the Bank’s standard form.
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Loan application in the Bank’s standard form.
Documents certifying ownership of the property offered as additional collateral:
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Tax valuation of the property offered as additional collateral.
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Certificate of family status of the property owner(s).
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Valuation of that property carried out by a certified appraiser.
The cost of pledging the property are covered by the loan applicant. -
Other documents, at the Bank’s discretion.