Housing loan / Refinancing of housing loan

Key feature 
  • From EUR 10.000 to EUR 150.000
  • Repayment period from 12 to 240 months
  • Nominal interest rate from 3,75% (fixed)
  • Effective interest rate from 3,82%
  • Bank fee  up to 1% of the loan amount
  • Fast and simple way to get a loan

 

 

Security instruments
  • Administrative withholding order on salary/pension of a client/guarantor
  • Bill of exchange and bill authorization signed by a client/guarantor
  • First rank mortgage in favor of the Bank, minimum LTV 1:1.2
  • Property insurance policy
  • Life insurance policy (optional)
  • Life insurance policy is not obligatory, but in case it is not used as security instrument for the loan, interest rate shall increase by 0.3%
  • Client may use 5% of the loan amount as cash, but in that case the fee shall be increased by 0.3%, and LTV to minimum 1: 1.3.

* * The Bank reserves the right to accept an alternative security instrument if found acceptable and in line with the Bank's business policy.

 

 

 Required documentation

Representative example

Representative example

Loan amount

€ 60.000

Repayment period

240 months

Nominal interest rate

3,75%

Monthly installment

€355,72

Administrative fee

€600

Effective interest rate

3,82%

Total debt

€85.372,80

* The total debt includes the loan amount, total interest, loan processing fee, cost of bill of exchange of EUR 2 and cost of enquiry in the Montenegrin Credit Registar  of EUR 3.50.  The cost of life insurance policy, property insurance policy and real estate appraisal cost are not included in the EIR.


** The data on this loan may vary depending on the client's solvency. For more information, please visit  a local branch of Lovćen banka AD or make an appointment by phone on +382 20 205 410 or send an e-mail to: krediti.fl@lovcenbanka.me