Stopanska Banka - Housing Loan – Main Characteristics

Characteristic

Advantages

Repayment period up to 30 years
- For purchase, construction, extension and superstructure: up to 30 years
Guaranteed interest rates for the first 5 or 10 years
NO fee for early loan settlement from own funds
NO deposit, NO guarantors, NO administrative wage garnishment, NO bill of exchange
Possibility to put a mortgage on the flat to be purchased
The co-borrowers may be individuals who are not members of the immediate family
EUR: denar loan with a foreign currency clause; MKD: denar loan

Purpose

For loans with life insurance

3.20% fixed for the first 5 years, for payroll/pensioner SB clients or
3.50% fixed for the first 10 years, for payroll/pensioner SB clients.
For all other clients 4.10% fixed for 3 years.

For loans WITHOUT life insurance

3.40% fixed for the first 5years, for payroll/pensioner SB clients or
3.70% fixed for the first 10 years, for payroll/pensioner SB clients.
For all other clients 4.30% fixed for 3 years.

Variable interest rate for the remaining period EUR/MKD

Repayment and fees

Equal monthly annuities
NO charge for early partial or full loan settlement from own funds
For refinancing of housing loans from SB into other banks 3% charge of the refinanced amount (only for loans secured by pledge on immovable property)
Application fee: 600 MKD for all clients
400 MKD for generating title deed
Administrative fee: 0% of the amount of the approved loan, one-time payment
Appraisal fee in the amount of 0 MKD for a property offered as security
Costs for insurance of the mortgaged property,
Notary fee for establishment of a notary act and registry in the Cadaster

Criteria

Citizen of the Republic of North Macedonia
Compulsory own participation of at least 10% of the value of the flat to be purchased (depending on the value of the collateral and the creditworthiness of the client)
Minimum monthly salary in the amount of 12.000 MKD for payroll and 10.000 MKD for pensioner, for each participant in the loan, individually.
For SB payroll/non-SB payroll clients - from 20 years at application upto 70 years on loan repayment date (in case when co-borrower/s is/are included the age of one of the loan participants can be upto 70 years on loan repayment date, while the other loan participant/s on loan repayment day can be up to 75 years).
For pensioners - up to 70 years on loan repayment date (in case when co-borrower/s is/are included and all the loan participants are pensioners at the moment of application, the age of any of the loan participants on loan repayment day can be up to 75 years).
Co-borrowers may be members of the immediate family (a parent, child or spouse), on the contrary the following requirements shall be met:

the co-borrower shall be a client receiving salary/pension on a SB account,
the co-borrower shall be a client with an existing loan product in SB or at any other bank and with good credit history

For the accepted co-borrower (regardless whether they are members of the immediate family) 100% of the co-borrowers’ income and debts is taken into DTI calculation
Individuals, citizens of the Republic of North Macedonia, who are employed abroad, may be accepted as borrowers/co-borrowers only in cases when members of the immediate family with a permanent employment in RNM appear as borrowers/co-borrowers. The following conditions also apply:

The Employment Certificate as well as latest annual tax statement submitted to the tax authority in the country where they are employed must be translated by an authorized translator.

Documentation

Housing loan application form (for the borrower and co-borrowers)
Copy of ID or passport (for the borrower, co-borrowers and mortgage debtor)
For clients receiving salary on a SB transaction account, only a transaction account statement for the last three months is required
For clients not receiving salary on a SB account, Certificate of Employment, signed and certified by the employer (not older than 30 days), and if necessary other documents to serve as proof of the monthly salary. The clients employed in private companies that are not joint-stock companies or state/public enterprise are required to submit a PP53 form (Declaration for receipt from PRO) for the last month.
Property certificate for the mortgaged real estate (for all purposes), not older than 6 months
Birth Certificate (not older than 6 months) / Marriage Certificate issued by RNM (for the borrower and co-borrowers)
Provided that the collateral is a house, the land should have an established property right or a right for a long term lease
Consent for report submission by Macedonian Credit Bureau AD – Skopje (MCB) (for the borrower and co-borrowers)
Additional documentation required by the bank

Pre-agreement /agreement for purchased flat / house / business premises certified by a notary public
Extract for the Detailed urban plan or a confirmation issued by the municipality that the land in within a construction area (only for purchase of a construction lot)

For all types of construction (in case another property is offered as a collateral)