Loans for Real Estate and Reconstruction

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Loans for Real Estate and Reconstruction

This loan enables you the following benefits:

  • Land

  • Shops

  • Office

  • Reconstruction of existing facilities

Benefits from Real Estate and Reconstruction Loans

  • Simple and clear process

  • Documentation submitted

  • Notary convenience

  • Credit in two currencies, ALL and EUR

  • More conveniences if you have the salary at OTP Bank there are

More on Real Estate and Reconstruction Loans

  • Maximum amount for shop / office purchase: Up to 300,000 Euros (not more than 80% of the purchase value)

  • Maximum purchase amount: up to 250,000 Euros (not more than 60% of the purchase value)

  • Duration: up to 15 years.

  • Currency: ALL, EURO, USD

  • Interest Rates:

LEK: 3.5% fixed for the first 2 years; remaining years Treasury Bills + 1.50%, Min 4.0%;

LEK: 4% fixed for the first 3 years; remaining years Treasury Bills + 1.50%, Min 4.0%;

EUR: 1.9% fixed for the first year; remaining years (EUR) + 3.75%, Min 4.0%;

EUR: 2.5% fixed for the first 2 years; remaining years (EUR) + 3.75%, Min 4.0%;

EUR: 3.0% fixed for the first 3 years; remaining years (EUR) + 3.75%, Min 4.0%;

EUR: 3.75% fixed for the first 5 years; remaining years (EUR) + 3.75%, Min 4.0%;

USD: 7.5% fixed for the first year; remaining years Libor (USD) + 4.5%, Min 7.5%;

  • Repayment method: principal and interest are paid in equal monthly installments.

  • Penalties: In case of delays in payment of installments, the bank applies a delay penalty, based on the current Terms & Conditions.

  • Early Payment: The bank accepts partial or total payments before the maturity of the loan.

Reconstruction

The main features of the loan for real estate reconstruction are:
  • Maximum amount: Up to 300,000 Euros

  • Duration: up to 10 years.

  • Currency: LEK, EURO, USD

  • Interest Rates:

LEK: 3.5% fixed for the first 2 years; remaining years Treasury Bills + 1.50%, Min 4.0%;

LEK: 4% fixed for the first 3 years; remaining years Treasury Bills + 1.50%, Min 4.0%;

EUR: 1.9% fixed for the first year; remaining years Libor (EUR) + 3.75%, Min 4.0%;

EUR: 2.5% fixed for the first 2 years; remaining years Libor (EUR) + 3.75%, Min 4.0%;

EUR: 3.0% fixed for the first 3 years; remaining years (EUR) + 3.75%, Min 4.0%;

EUR: 3.75% fixed for the first 5 years; remaining years (EUR) + 3.75%, Min 4.0%;

USD: 7.5% fixed for the first year; remaining years Libor (USD) + 4.5%, Min 7.5%;

  • Repayment method: principal and interest are paid in equal monthly installments.

  • Penalties: In case of delays in payment of installments, the bank applies a delay penalty, based on the current Terms & Conditions.

  • Early Payment: The bank accepts partial or total payments before the maturity of the loan

For more information please download standard pre-contractual documents for Real Estate and Reconstruction Loan.

How To Get the Real Estate Loan and Reconstruction Loan

The following documents are required for the principal borrower and the co-borrower:
  • Proof of income (from salary, rent, or both).

  • Identification Documents (ID or Passport)

  • Collateral documents

* The Bank reserves the right to request additional documents if it deems it necessary.
  • Collateral: The bank accepts as collateral:

Real Estate Mortgage with 150% coverage of the loan value

Deposits with coverage of 110% of the value of the loan

  • Other Security:

Co-borrower required

Life and Property Insurance at 110% of the loan