Multipurpose Mortgage Loan
The UBB multipurpose mortgage loan has attractive interest rates and enables you to obtain funds for any needs that you might have.
Promotional offer for applications, submitted till 31.03.2017: Use a loan from UBB to refinance your mortgage loan by another bank, without paying any fees during the application and loan approval process.
New offer valid for applications submitted after 01.02.2017. UBB offers you a mortgage loan with:
- 5.353% variable interest rate in BGN with payroll or regular proceeds in a “Comfort” account
- No application fee
- Maximum loan amount: EUR 60 000 / BGN 120 000
- Preliminary approval within 1 day
- Repayment period: up to 20 years
Loan collateral: Mortgage on a residential real estate
- Prepayment Fee - 1% until the 12th monthly installment
- Property appraisal fee - BGN 102 (for an apartment)
- Fee for a legal opinion /representation of the Bank upon instituting the mortgage/ – BGN 100
- Credit assessment fee – BGN 100
- Loan Account Maintenance Fee – BGN 2.50 monthly
- Mortgage release fee - BGN 60
APR: 5.67% with a loan of BGN 50 000 for a period of 20 years and 5.353% variable interest rate with payroll transfer or regular proceeds to a Comfort account: 240 monthly installments on the loan in the amount of BGN 339.81; total due amount of BGN 82 514.57. Conclusion of Property Insurance policy is required, as the related expenses are not included in the APR.
Description of United Bulgarian Bank’s Reference Interest Rate (RIR) Methodology, used for determining the variable interest rate on loans to natural persons, is available here.
UBB offers you the Home and Family Protection insurance program with comprehensive Property and Life coverage. More information is available here.
Needed documents for applying
Main documents, needed upon applying for a mortgage loan:
|Document Type||Issuing institution|
For obtaining preliminary approval
|Mortgage loan application form||UBB AD|
|Copy of the Borrower/ Co-debtor’s ID card||---------|
|Certificate of Income, concerning the income amount and the employment contract period of the Borrower and his/her spouse||Issued by the Employer according to a sample form of the Bank|
|Depending on the income source: Annual Tax Return for natural persons, independent employment contracts and Statements of Honoraria (Received Income), Rental Agreements etc.||----------|
For ascertaining marital status and presence/ absence of liabilities
|Certificate of marital status||Issued by the municipality’s Civil Registration Office, according to the permanent address (permanent residence)|
|Certificate of tax liabilities under Art.87, para.6 of the Tax Insurance Procedure Code.||Issued by the local office of the National Revenue Agency, as per the mortgagors’ permanent address|
Documents of the real estate, standing collateral under the loan
|Documents, certifying the real estate’s ownership: Title Deed, Purchase-Sale Agreement or Construction Right Agreement, signed with the State or Municipal Authorities||----------|
|Certificate of encumbrances on the real estates over a minimum period of 10 years prior to submitting the loan application||Issued by the Registry Agency Office|
|Tax valuation certificate for the real estate||Issued by the Municipality, according to the real estate’s location|
Real estate layoutRegarding areas with approved cadastral map- real estate layout, building design/ design of an independent unit in a building
|Issued by the local technical office of the Geodesy, Cartography and Cadastre Agency|
|When the offered collateral is not completed and has not been put into operation: Land ownership documents or such certifying established construction right, Construction Permit, approved architectural designs, surface calculation table, Statement under Art.181, Para.2 of the Spatial Development Act, certifying reached shell-and-core construction stage||Issued by the respective municipal or regional administration|
Documents, pertaining to the specific purpose of the loan
|Detailed budget estimations and an Agreement for Construction and Assembly Works (if any) /concerning loans for construction, repair works and furnishing/||----------|
By judgement of the Bank and depending on the content of provided documents additional documents, relating to the borrower and the collateral may be requested.
Main steps upon applying for a mortgage loan
Steps upon applying for mortgage loan:
Step 1: Obtaining a preliminary approval for a mortgage loan
In order for you to obtain a preliminary approval for a mortgage loan, you need the main information about your income and credit liabilities. You may visit any branch of the Bank and fill in a loan application, accompanied by a document about your monthly income.
Step 2: You have obtained a preliminary approval and you proceed further with the loan
You have already obtained a preliminary approval for a loan amount in accordance with your current financial status. It is important that you are acquainted with the period of its effect. In order to continue with the process of obtaining a final approval of the loan and signing an agreement, you should go through the following 2 steps:
- Preparation of an expert appraisal of the real estate by a licensed appraiser –The obtaining of an appraisal of the loan collateral is a mandatory stage for you to go through. For this purpose the real estate will be visited by a licensed appraiser, with whom the bank has signed a framework agreement.
- Obtaining a legal opinion – The obtaining of a legal opinion on the loan is a mandatory stage that includes a review of the documentation relating to the proposed loan collateral and preparation of a legal opinion and representation of the bank upon instituting a mortgage.
Step 3: Receiving a final approval of the loan
Step 4: Signing a loan agreement and utilization of the loan
After signing the mortgage loan agreement, the formalities concerning the purchase-sale deal and / or the collateral deal shall be performed by a notary public. In order for the loan to be finalized and its funds to be utilized, the only thing for you to do is present an Encumbrance certificate with a first-ranked mortgage, registered in favor of the Bank /unless otherwise specified in the loan agreement/.
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