director - Ministarstvo finansija

PROJECT "1000 HOUSING CREDITS”
BULLETIN OF THE MINISTRY OF FINANCE/JANUARY-MARCH 2006
of the net monthly income after other deductions
- If the beneficiary does not fulfil the aforementioned
credit capability condition, credit capability can be supplemented
Documentation needed:
- Credit Claim Form filled in
- Borrower Data Form filled in
- Administrative ban on all parties to the credit;
- Certificate/Declaration form filled in and certified
- Photocopies of identity cards of credit beneficiaries and
joint guarantors
- Certified payment orders of earnings for the last three
months of all parties to the credit
- Abstract from property registers and Real Estate Register,
not older than 3 days ;
Security instruments:
- Two creditworthy indorsers for credits up to eur 5.000
- First mortgage of the least estimated value of 1:1,25, for
credits to the amount higher than eur 5.000
- Real estate insurance against basic risks;
- Administrative ban of credit beneficiary (endorser);
- Bill of exchange authorization signed by the credit beneficiaries
and joint gaurantor
- Bill of exchange signed by all parties to the credit;
- Life insurance for credits to the amount higher than eur
5.000 and repayment period longer than 10 years
- Joint Guarantee Contract or Declaration of Joint
Guarantee
- Bank can require additional security
NIKŠIĆKA BANKA AD NIKŠIĆ
Interest rate and other expenses:
- Fixed interest rate: 6,4% annually, out of which share of
the interest rate repayment of the Government of the Republic
of Montenegro is 2,4%, while the rest 4% is repaid by the credit
beneficiary;
- Default interest rate: One third of regular interest rate,
augmented by one percentage point in relation to the normal
interest rate;
- Fee: 0,50% one-off payment from the amount of the
extended credit, on the occasion of granting the credit;
- Pre-term credit repayment: 2,00% for the remaining
amount of the credit principal;
Credit risk security:
- Three endorsers, certified administrative bans for credit
beneficiary and endorsers (i.e. permanent order of suspension
of a part of income to the benefit of the Bank) and a blank bill
of exchange with the credit beneficiary's acceptance, avalled by
the endorser are needed for credits up to eur 5.000,00;
- For credits from eur 5.001,00 to eur 30.000,00, first mortgage
is taken out and the credit beneficiary submits to the
Bank also 2 (two) certified administrative bans (i.e. permanent
order of suspension of a part of income to the benefit of the
Bank) and a blank bill of exchange with the credit beneficiary's
acceptance. Apart from the housing space which is being purchased
or reconstructed from the credit funds, the credit beneficiary
can offer also another's real estate as mortgage to be
taken out in favour of the Bank, with presentation of its
owner's approval certified by court. Minimum value of the
hypotecated real estate must be by 50% higher than the credit
amount to be extended. Estimate of the real estate value in
order to take out a mortgage is done by the Directorate for
Real Estate of the Republic of Montenegro.
Property insurance
- on the occasion of concluding the credit, credit beneficiary is
obliged to present to the Bank an insurance policy of the hypotecated
real estate, which is vinculated in favour of the Bank.
Required documentation:
- credit claim,
- certificate of the income amount,
- request for issuing a permanent order for suspension to
the Bank or administrative bans,
- blank accepted (avalled) bill of exchange,
- Copies of Identity Cards for credit beneficiary, co-debtor
and endorser,
- Real estate certificate for mortgaged real estate, i.e. a copy
of urban plan paper (only for house, if it is mortgaged),
- insurance policy of hypotecated real estate,
- certificate of the housing space ownership (for adaptation
and reconstruction), i.e. certificate of non-ownership of a
housing space (for purchase crediting),
- certificate of household,
- certificate of years of service.
Credit realization:
- Credit up to eur 5.000,00 is disbursed by transfer to the
credit beneficiary's account, which is open with the Bank.
- Credit exceeding eur 5.001,00 is disbursed to the Bank giro
account of the housing space sellers or contractor of adaptation
or reconstruction works
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