Home Under Construction Mortgage Loan

Buy your dream home now. Mortgage loan for the purchase of a residential property whose construction is not yet completed and is financed by the Bank.

The first 30 requests for mortgage loans for the purchase of residential property for a "Home Under Construction"  or "At present time" Loan products submitted by September 30, 2019, which are approved for financing under the standard terms for the respective product, will receive a gift of a basic conceptual design for the interior design of the new housing. You can see the full terms below.

SUBMIT ENQUIRY

Terms

Amount

Up to 90% of the selling price

Currency

BGN or EUR

Loan term

Up to 30 years

Advantages

  • You can purchase a residential property whose construction is not yet completed and is financed by Tokuda Bank.

  • Possibility of financing if Act 14 (approval of the building shell by a construction inspector) has been issued.

  • Low fixed interest rate for the entire term based on transparent pricing.

  • 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.

  • Option of having a grace period on the principal – up to 12 months from the signing date of a bank loan contract.

  • Property insurance may be concluded with a selected insurer by the borrower.

  • Loan with no early repayment fee – after 12 loan payments have been made.

  • Choice of repayment plan – annuities, decreasing instalments or individual repayment plan.

  • Option of paying the review and analysis fee in two instalments.

  • No fee for the preparation of a legal opinion on the loan.

  • Possibility of preparing a draft mortgage deed/legal mortgage registration application – the cost is included in the loan APR.

  • Without requiring the conclusion and maintenance of Life, Accident or Credit Insurance.

Requirements

  • The loan applicant must have worked for their current employer for at least 6 months.

  • The loan applicant must receive provable regular income.

  • You must have a history of regular payments on your existing loans.

  • First-ranking mortgage on the property serving as collateral.

  • The loan applicant’s age must not be more than 65 years when the loan term expires.

  • Loan applicants who will be more than 65 years of age at the end of the loan term must fulfil the following additional terms:

    • 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.

    • 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

Basic conceptual design

Full terms for the basic conceptual design

  • Gift basic conceptual design will receive the first 30 mortgage loans for the purchase of residential property that will be approved for funding under standard terms and submitted until 30 September 2019
  • Approved and granted mortgage loan for the product "At present time" for the purchase of residential property and "Home under construction" with standard parameters, without preferential conditions.
  • Deadline for application for credit  in the period 17.04.2019 - 30.09.2019.

  • The interior design is a basic conceptual design, and the designer can be selected from a list provided by the bank.


The basic conceptual design includes

  • Internal arrangement, with dimensions, M1: 20. Black and white.

  • Soffit (ceiling) plan, with dimensions, M 1:20. Black and white.

  • Blisters of each room, 4 pcs. per room, M 1:20. Colorless, no size. Dimensions are placed only on the look (glances) showing the kitchen furniture.

  • 3D plan – above sight. Colorful.

  • 3D aspect, 2 pcs. for each room. Colorful.

  • The basic conceptual design includes 1 option.

  • Choosing the right type of furniture and brand is not part of the concept project.
  • The basic conceptual design does not include details.
  • The basic conceptual design does not include precise dimensions and exact location of installation outlets.
  • The basic conceptual design does not include detailed unfolding of any of the rooms.
  • The basic conceptual design does not include a detailed arrangement of floor coverings and wall claddings.

How to apply

At a bank branch

Discuss the transaction with one of our consultants. Complete a loan application form and prepare the required documents.

Online enquiry

Complete the online enquiry form and one of our consultants will get back to you.

  • Copy of the loan applicant’s ID card.

  • Preliminary sale and purchase agreement with the builder of the residential property whose construction is financed by the Bank.

  • Declaration regarding related persons – in the Bank’s standard form, if applicable.

  • Declaration of relationship in the Bank’s standard form.

  • Loan application in the Bank’s standard form.

Documents certifying ownership of the property offered as additional collateral:

  • Tax valuation of the property offered as additional collateral.

  • Certificate of family status of the property owner(s).

  • 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.