Mortgage loans

Dear Clients,

We inform you that our Bank suspended the sale of mortgage loans for private persons from 17 December 2014.

Best regards,

KDB Bank Europa Ltd.

Budapest, 12.17.2014

 

Why choose KDB NORMAL mortgage loan?

The NORMAL mortgage loan provides assistant for private persons with justified income to reach their aims. The loan may be used for purchase/extension/renovation of a real estate or for any free purpose: shopping, high cost travel – even redemption, etc.

The NORMAL mortgage loan is an income-based financing form, where the Applicant should be either (one of) the owner of the real-estate collateral or should be that during purchasing; or the real-estate owner(s) should be involved as co-debtors. For disbursement of the loan a life insurance should be take out (with a contractor of the Bank) the premium of which is included in the instalment.

 

Purpose of the loan:

Purchase/extension/renovation of real estate/for any free purpose

 

Entitled for the loan:

The Applicant can be an at least 18-years-old individual domestic person who can be at most 70-years-old at maturity. In case the age of the applicant exceeds 70 years it is necessary to involve a younger co-debtor with income liability who must not be older than 70 years at maturity.

 

Collateral:

Real estate offered by the applicant as collateral which must meet all the criteria defined by the Bank

 

Currency of the loan: HUF

  

Tenor:

The tenor can be at least 1 but at most 25 years in all currencies and available with at most 6-month grace period. During this period the Applicant pays only the interest and the administration fee. The Applicant may require the prolongation in written form during the tenor within the product conditions.

 

Loan amount, financing ratio:

Minimum loan amount is HUF 1 million 

The maximum amount of the loan is  maximum 80% of the purchase value of  the collateral property.

The value of the real estate must be at least HUF 4,000,000 (determined by the bank appraisal).

 

Necessary documents:

 
  • Filled loan application form;
  • Valid personal ID, address card, Tax ID, personal ID no;
  • Full Title Deed not older than 15 days;
  • In case the collateral is a row house, semi-detached house, family house a copy (not older than 90 days) of the map is necessary ;
  • budget about the work in case of extension/renovation
  • Collateral value appraisal prepared by one of the real estate appraiser companies accepted by the Bank;
  • Certificate provided by original lender in case of redemption specifying the outstanding debt mortgaged on the real estate (loans from municipalities, financial institutions and employers);
  • Employee: original income statement issued by the Employer not older than 15 days
  • Pensioner: copies of the pensioner ID and the last month pension coupon, or the last month bank account statement;
  • Private entrepreneur, company owner: original tax and income certificate from the tax authorities. Certificate on non-debt issued by tax authorities (For private entrepreneur we require also a copy of the private entrepreneur ID.);
  • Two different utility bills for the last month made out on the address of permanent residence or the name of the applicant (e.g. phone, gas, electricity etc.) together with postal checks or bank account statements confirming timely payment.

Before contracting we require opening the necessary accounts with our Bank: HUF account, in case of approval of the loan application the fee of Land Registry must be paid by the Client.

 

Residential real estate can be accepted as collateral in case:

  • there are no legal or other claims and burdens (except for it may be accepted) on the collateral;
  • it is marketable as a separate real estate, clear ownership;
  • there was no and not initiated execution process against the present owner of the collateral. 

The Bank does not accept the following types as collateral: adobe house, mixed wall house, wood constructed house, cottage, garage, shop, building site, non-residential area, limited used parcels etc.

The relevant expenses are to be borne by the Client.
The above data are of indicative character, the Bank reserves the right for modification.

 

The types, calculation methods and due dates of interests, commissions and fees applied by the Bank is included in the effective General Business Rules, the level and settlement currency are defined by the Announcements of the Bank.

 

For detailed information please turn to one of our Branches.

 

List of conditions and more product information

 

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