Mortgage loans of Banca Intesa Beograd
Banca Intesa Beograd, along with its leading position in corporate operations, has been intensifying its retail operations and a wide range of products and services is intended for natural persons, which is also confirmed by the growth of the market share. After thorough preparations Banca Intesa Beograd added to its offer the product that was missing- the mortgage loans. Analysing the needs of the citizens on our market, when mortgage loans are concerned, and all the problems the citizens are facing in the process of obtaining a loan for the purchase of real estates, Banca Intesa Beograd decided to offer several various models of mortgage loans, so that everyone may choose the one that suits most to their needs and position.
What is unique in the offer of mortgage loans of Banca Intesa Beograd: flexibility, i.e. the existence of five different models adjusted to the needs of various target groups; option of two joint and several debtors with the loan applicant, that do not have to be members of the family nor to have the same residence (i.e. one co-debtor in the model insured with the National corporation for loan insurance with which Banca Intesa Beograd is signing the contract today); as well as the issuance of the certificate which confirms the approval of the mortgage loan and facilitates the further procedure of negotiating the purchase of the real estate. There are no additional initial costs that burden the loan applicant, such as loan request processing fees and administrative costs (except in the loan model insured with the National Corporation). In case of a premature loan repayment the client shall not pay any commission if he is paying off less than 20% of the remaining debt once a year, i.e. he pays 1% commission if he pays off more than 20% of the debt. Other advantages of these mortgage loans are the minimum down payment of only 5% of the value of the real estate and one of the longest tenors at the market – 30 years. Neither deposits nor guarantors are required, and the health and life insurances are not necessary.
All mortgage loans of Banca Intesa Beograd are based on a mortgage and indexed in euros because this is the most real option for our market. As a part of the transparency policy it should be stressed that the nominal and effective interest rates are equal for all loan models, except for the model insured with the National corporation for loan insurance. In the beginning, the loans will be approved exclusively on the grounds of a mortgage on real estates entered in the books and Banca Intesa Beograd is also preparing models for real estates which are not entered in the books, i.e. for real estates in construction and this model will be launched on the market soon.
Model number 1 is a loan insured with the National Corporation for the insurance of mortgage loans. The loan amount may range from 10.000 euro till 80% of the value of the real estate that is being credited, with the down payment of at least 20% of the purchase value of the real estate. The tenor is from 11 to 30 years, the nominal interest rate is a 6M EURIBOR +3,9% p.a. (totally 6,9%), and the effective interest rate ranges from 7,05% to 7,3%. This model of mortgage loans is the only one for which a one-off fee for the loan request processing has to paid which amounts to 0,5% of the total loan amount or at least 200 euro, as well as the fee for administrative costs of the National corporation which amounts to 30 euro in dinar countervalue.
Model number 2 is the loan based on 20% down payment with a fixed tenor. The loan amount for this model is also ranging between 10.000 euro and 80% of the value of the real estate that is being purchased from the loan. The tenor is between 11 and 30 years, and shall not be changed disregarding the change of the interest rage which amounts to 6M EURIBOR + 6% p.a. This loan model is particularly suitable for clients that do not fulfil conditions for the loan insured with the National Corporation.
Model number 3 is a loan based on 20% down payment with a fixed annuity, therefore it shall not being changed per month disregarding the change of the interest rate amount. The interest rate is the same as for the model number 2, but its changes may shorten or extend the formerly determined loan tenor. The maximum tenor of the loan amounts to 25 years and if the interest rate should be increased it may be prolonged to max. 30 years. The loan amount in this model ranges from 10.000 Euro up to 80% of the value of the real estate.
Models number 4 and 5 are intended first of all for young couples, but also for all other clients that do not have initial capital and want to have a real estate in their ownership, taking in consideration the min. down payment of only 5% and the absence of initial costs.
Model number 4 is a loan based on 5% down payment with a fixed tenor. The loan amount that is being approved may range between 10.000 euro and 95% of the value of the real estate that is being purchased, with the down payment of at least 5% of the purchase value of the real estate. The tenor ranges from 11 to 30 years, and is not being changed disregarding the changes in the monthly amount of the interest, which further may impact the change of the monthly annuity amount. The interest rate for this model amounts to 6M EURIBOR +7,5% p.a., with a compound calculation method.
Model number 5 is a mortgage loan based on 5% down payment with a fixed annuity. The interest rate is the same as in model number 4, whereby the change of its monthly amount shall affect the shortening or extending of the tenor. The tenor for this model ranges from 11 to 25 years and in case of an increase of the interest amount, it may be prolonged to 30 years. The amount may range from 10.000 euro to 95% of the value of the real estate, with a min. down payment of 5%.
An example for a loan insured with the National corporation: if the loan amount is 40.000 euro and the tenor 30 years, the nominal interest rate will amount to 6,9%, the effective interest rate will be 7,05% and the monthly rate will amount to 256 euro.
The process of obtaining the mortgage loans of Banca Intesa Beograd is very quick and simple. The loans will be granted in 36 branches all over Serbia assigned particularly for these purposes in order to enable the citizens to carry out everything in their own town, without any need to come to Belgrade. The loans will be approved by specially trained Sales Advisors, Mortgage specialists in order to offer clients efficient services of the best quality. If the client is well informed and prepared and has already chosen a real estate for the purchase of which he will ask for a loan, the process may last only seven days. The examination of the creditworthiness shall be carried out within three working days only and if it the client’s solvency is stated, Banca Intesa Beograd shall issue a special certificate to the client valid for 60 days confirming that the mortgage loan will be granted, which will facilitate the further procedure of negotiating the purchase of the real estate. After delivering the corresponding documentation regarding the real estate, the bank shall grant the client the mortgage loan within three working days.
The general terms and conditions that have to be fulfilled by the client in order to be granted a mortgage loan of Banca Intesa Beograd are:
• The annuity amount for the loan repayment (including principal and interest) may amount max. to 50% of the salary of the loan beneficiary or to the sum of the salaries of the joint and several debtors reduced for other suspensions.
• The loan beneficiary may be max. 65 years old in the moment of finalizing the loan repayment.
• The loan beneficiary must have a positive report of the Credit Bureau.
The collaterals are:
• 3 blank promissory notes of the loan beneficiary (and joint and several debtor)
• Standing order for the collection of the annuity charging the current account of the loan beneficiary
• Restrictive administrative ban of the loan beneficiary (and the joint and several debtor)
• Unilateral first mortgage „executive extra-judicial“ on the real estate entered into the books of corresponding value in favour of the bank
• Insurance policy against basic risks and additional risk which concerns the leakage of water from the installations of the object on which the mortgage has been established, pledged in favour of the bank
The procedure of obtaining mortgage loans of Banca Intesa Beograd is quick and simple, in only five steps, i.e. five visits to the bank, but a well informed and prepared client may obtain the loan after three visits only.
Step number 1: the mortgage specialist helps the client to choose the loan model that suits him most according to the data referring to the salary and monthly costs. On this occasion the client receives the form that has to be certified by his/her employer as well as a list of documents that the client has to bring to the bank during the next visit.
Step number 2 understands the checking of the delivered documentation, determining of the creditworthiness of the client, informing the client on the max. loan amount (within three working days) and delivery of the certificate on the client’s home address with the validity of 60 days, during which the client will find a corresponding real estate, if he has not found it yet.
Step number 3 means to inform the client on the final loan approval, after the client delivered a correct and complete documentation.
Step number 4: after getting the information on the approved loan, the client delivers a sales agreement certified in court, signs the loan agreement and gets the documentation necessary to constitute the mortgage which has to be certified in court.
Step number 5 consists of delivering the remaining documentation (bills of exchange, insurance policy for the real estate), the client’s signing of the bill of exchange, and the disbursement of funds by the bank to the account of the seller of the real estate.
The list of branches of Banca Intesa Beograd where mortgage loans will be granted and where mortgage specialists expect you to come are:
• Zemun, Glavna 30
• New Belgrade, Tošin bunar 128
• New Belgrade, Milentija Popovića 7a
• Čukarica, Požeška 128
• Palilula, Bulevar Kralja Aleksandra 288
• Voždovac, Ustanička 130
• Stari grad, Knez Mihailova 30
• Stari grad, Kolarčeva 5
• Stari grad, Studentski trg 7
In other towns of Serbia:
• Trstenik, Cara Dušana bb
• Kruševac, Čolak Antina 9
• Kruševac, Mirka Tomića 4
• Kruševac, Vece Korčagina 18
• Kragujevac, Kralja Petra I 46
• Kraljevo, Trg Jovana Sarića 8
• Paraćin, Kralja Petra I 4
• Novi Pazar, AVNOJ-a 6
• Jagodina, Narodne omladine bb
• Vranje, Kralja Stevana Prvovenčanog 68
• Niš, Sinđečićev trg 18
• Leskovac, Trg Revolucije 7
• Pirot, Branka Radičevića 18
• Novi Sad, Bulevar Mihajla Pupina 4 • Novi Sad, Bulevar Oslobođenja 32
• Subotica, Dimitrija Tucovića 2
• Zrenjanin, Kralja Aleksandra I Karađorđevića bb
• Pančevo, Štrosmajerova 1
• Pančevo, Karađorđeva 2-4
• Požarevac, Trg Radomira Vujovića 12
• Kikinda, Braće Tatića 16
• Vršac, Sterijina 19a
• Šabac, Gospodar Jevremova 44
• Valjevo, Vuka Karadžića 5
• Čačak, Kuželjeva 1
• Užice, Dimitrija Tucovića 59
• Loznica, Pašićeva 2