Mortgage loan for Bulgarian citizens with income from abroad

Loan applicant:

A legally competent natural person, Bulgarian citizen, self-employed or working under a permanent employment contract in a country falling within the scope specified herein below.

Scope:

For loan applicants with income from:

•    European Union (EU)

•    European Economic Area (EEA)

•    Switzerland

•    USA

•    Canada

•    United Kingdom

Purpose of the loan:

• to purchase real estate in Bulgaria
• to repay existing debts (excluding public debts to the state and municipalities)
• to cover current needs

Special offer:

When refinancing a mortgage loan from another bank: Fibank, depending on the individual credit rating of the applicant, will pay the notary and state fees related to the establishment of a mortgage, up to BGN 1,200.*

Loan currency :

EUR

Loan amount:

No limits

Repayment term:

Up to 25 years (300 months)

Method of repayment:

In equal monthly instalments

Percentage of bank loans:

Up to 70% of the real estate’s market price

Collateral:

• Mortgage on real estate that is already in use and located in a residential, administrative, or commercial building.
• Co-debtor – natural person with a permanent and current address in Bulgaria.

Document review fee:

EUR 102.26 / BGN 200

Loan negotiation fee:

According to the effective Tariff of Fees and Commissions of FIB AD.

The fee is payable no later than the first repayment instalment on the loan.

Real estate valuation:

The valuation of the property serving as collateral is carried out at the expense of the loan applicant by an independent real estate appraiser—external to the Bank—who is registered in the register of independent appraisers maintained by the Chamber of Independent Appraisers. The valuation is then confirmed by an internal Bank appraiser (see Tariff – Licensed Asset Appraisals).

Terms and conditions related to early loan repayment:

If the borrower wishes to exercise their right to repay part or all of their obligations under the loan agreement early, they must submit a written request to the Bank specifying the amount to be repaid early and the desired repayment date.

An early repayment commission of 1% of the repaid amount applies if the loan is repaid before 12 monthly instalments have been made since its drawdown. No early repayment fee applies for repayments made after this period.

In the event of early partial repayment, the borrower may choose one of the following options:
• Reduce the repayment amount while maintaining the final repayment date of the loan;
• Reduce the final repayment date of the loan while maintaining the repayment instalment;
• Combine the two options above.

Possible consequences of default:

Payments due but not made on time because of insufficient funds in the borrower's current account with the Bank will be considered overdue. For the period of delay, the borrower will owe compensation for delay (penalty surcharge) on the overdue amount. The compensation for delay will be equal to the statutory interest rate.

If the borrower fails to fulfil any of their obligations under the agreement, or if the loan is declared fully and early due and payable, the Bank is entitled to satisfy its claims from all collateral simultaneously, or from only one or several of them, in the order provided by law and in accordance with the type of liability chosen by the borrower as specified in the contract.

Deadline for accepting the loan offer:

The loan applicant has 14 (fourteen) days from the receipt of the draft loan contract to decide whether to conclude it.