Subsidized mortgage loans in Banca Intesa on new conditions
After the Government of Serbia took measures in order to improve the conditions of approving mortgage loans to the citizens of Serbia, Banca Intesa started granting mortgage loans with the subvention of the state having the tenor up to 30 years, and the minimum down payment of 5 percent.
Out of the total down payment of 25%, the state shall provide 20% from the budget of the Republic of Serbia, and 5% shall be provided by the beneficiary. The remaining 75% of the real estate value or the required loan amount shall be financed by the bank from its own resources and it shall have an ordinary interest rate per loan of 6M EURIBOR plus 3,9% p.a. The interest on the loan amount being financed from the budget of the Republic of Serbia shall amount to 0,1% p.a., with the tenor of 5 years and a grace period up to 25 years. The composite interest rate which shall be applied on the total loan amount shall vary depending on the tenor. So, for example for the tenor of 20 years the composite interest rate shall amount to 4,5% and for the tenor of 30 years 5 %.
Mortgage loans with the subvention of the state may be used by citizens of the Republic of Serbia up to 45 years of age, disregarding the marital status, that do not have their housing problem solved adequately. This means that even those who need a larger housing space, may sell their flat in ownership and buy a larger flat with the help of the subsidized mortgage loan.
The max. loan amount is 100.000 euro in dinar countervalue. The monthly installment must not exceed 50 percent of the regular monthly incomes of the loan beneficiary. If the loan beneficiary wants to increase his/her own creditworthiness, he/she may include another person in the loan repayment, that does not need to be a member of the family. In that case the monthly annuity must not burden more than 50% of their joint monthly net earnings.
The first mortgage on the real estate which is the subject of the purchase or on any other real estate, shall be required as a collateral for the loan.