Consumer Loan With Mortgage

It is a big, cheap and quickly granted consumer loan.

If you want to buy any luxurious consumption goods or to pay for expensive services, to freely dispose of the loan funds when repairing or reconstructing your home, we suggest you a consumer loan with mortgage.

• You intend to acquire expensive property which costs more than the amount of a usual consumer loan you can get.
• You plan to reconstruct or repair your home but you find it unacceptable to provide the bank with invoices, expense estimates or work schedules indicating how and when the work is going to be performed.

• It is a cheaper way of borrowing money if compared with a usual consumer loan.
• The individually set loan amount will depend on your family’s income and available pledge.
• The loan term can be from 1 to 15 years. It is a much longer term if compared with that of a usual consumer loan!
• You will be able to choose the interest payment scheme (linear or annuity) most convenient for you.
• The bank will not control how you spend the loan.

The granted consumer loans with pledging of immovable property may reach up to 70 percent of the value of the pledged property. You can pledge the following property:

• A completed individual residential house.
• A completed apartment in a residential house.
• Completed non-residential premises.
• A land plot not intended for agricultural activity.
• A land plot intended for agricultural activity (the purpose of the land plot has to be changed in residential within one year).

The to-be-pledged property must be assessed by assessors to the bank’s satisfaction and insured in accordance with the procedure set by the bank with an insurance establishment by indicating the bank as the recipient of the insurance benefit.

The property that you pledge to the bank must be insured by property insurance. On your request, we will insure your property at the most favourable market rates at the insurance company If P&C Insurance AS branch:

• Insurance tariff – only 0.07 percent of the insurance amount.
• Civil liability insurance – 5,000 Lt – without any additional contribution.

If you are married, only a guarantee of the spouse is required. Any guarantees of another natural person or company are not required.

• Loan application.
• Your and your spouse’s passports or ID cards, or driver’s licences of the new form.
• Income statement, if in cases provided for by law you have to declare your income, and other documents proving the earned income (if income is not reflected in SODRA’s database).
• Other documents requested by the bank.