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SPECIAL OFFER HOUSE ACQUISITION LOANS FOR
FOREIGNERS
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House / Apartments acquisition loans  
Conditions

      Currency EUR)    Tenor maximum 30
years(the age limit at the end of the tenor - 70
years old)    Maximum loan amount limited only
by the net family income    Installment cannot
exceed 45,55,65 of the monthly net family
income    Maximum financed value will be 75
or 85 form the market value of the
property/properties mortgaged in bank's favor,
but not more than the acquisition price.
Instalment 1 25 , 15 down payment ( equity
requirement) Instalment 2 ..... Bank Finance
(after red building finished and building
registered and pledged together with land in
favour of VBR) Instalment 3 ..... Bank Finance
(after fully finishing and public approvals)

•    Repayment will be in monthly equal
  installments
•  Minimum down-payment required 15,25,
  from the house acquisition price the client
  will deposit the down payment in cash or through
  bank transfer in an account opened at Volksbank
•  Insurance of the acquired apartment is
  required and assigned to the bank
•  Rental contract of the acquired apartment
  pre-leases, future leases and sales contracts
  assigned in favour of Volksbank and registered
  with Financial Authority.

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Necessary documents for obtaining the loan

•        Copies of identity papers  (ID papers or
  passport)
• Labor contract concluded for an indeterminate
  period or for a determinate period under the
  condition to have been prolonged at least once.
• Income statement from the employer that must
  include  at least the following elements
• -        Recommendation from employer
  (recommendation letter)
• -        Minimum information regarding the
  employer (name of employer, headquarter, phone
  number, fax, website - if available, a register
  number - code, etc)
• -        Net income (without taxes) effectively
  received by the applicant in the last 3 or 6
  months
• Account statement or salary slip for the last 3
  /6 months mentioned into the income statement.
• For free lancers caring on an independent
  private activity (own business)
• -  Documents issued by the local competent
  authorities (foreign authorities) confirming the
  net income obtained by the applicant in the last
  12 months (it will be taken into consideration an
  average of the net income on the last 12 months)
•  Account statement for the last 12 months
• - Loan application ( special form provided by
  the bank)
• - Copy of the rental contract (for the applicants
  who have incomes from rents)

All the above-mentioned documents must be
translated into Romanian by an authorized
translator and legalized by a public notary!
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Guarantees
       1st Rank Mortgage on the acquired house/
apartment        Insurance policy against all
the risks assigned in favor of the Bank, for the
house brought as a guarantee. The insured value
will be at least equal to the evaluated value of
the house or to the acquisition price (according
to each case)       Assignment of the incomes
resulting from pre-leases, future rental
contracts or sales contracts concluded for the
acquired flat/house (the assignment of the rental
contracts must be registered with the AEGRM-
Electronic Archive). Grace period maximum 24
months (only in the first 2 years) - optional
Interest and fees and commissions
       Current account opening fee according to
the VBR terms and conditions in force       
Credit file withdrawal fee  according to the VBR
terms and conditions in force        Interest
rate 5.95 p.y. (EUR)               File
analysis fee 35 EUR (to be paid before the
analysis).        Risk fee 0,165,0.210,
applicable to the outstanding of the loan amount,
payable monthly in the same day with the
interest ( depends on the financed value 0.165
for a maximum financed value of 75 and 0.210
for a maximum financed value of 85)       
Collateral administration fee 200EUR (100 EUR
before the evaluation and 100EUR at the contract
signing date).        Penalty commission (2
minimum EUR 10) for payment delays within the
first 5 days        For payment delays after
the first 5 days, there will be applied penalty
interests current interest 5        Fee for
early payments 2 from the loan amount
reimbursed in advance Minimum reserve fee
1.85 , applicable to the outstanding of the
loan amount, until 31.12.2008  


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Eligibility Conditions The minimum net
income required EUR 1.000/month The value of
the minimum living expenses taken into account
for granting the loan EUR 750 - for main
applicant and additionally EUR 250 for each
member of the family The minimum experience
required at the present work place 3 months
For calculation it will be considered the average
for the last 3/6 months mentioned in the income
statement The eligible net income net income
of the applicant/family minus minimum living
expenses
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• Necessary documents required for the
  house/apartment (which is being acquired)
• - ownership documents
• - identity papers for the seller (
  husband/wife)
• - If the seller has a representative we need a
  mandate for the transaction ( translated and
  legalized)
• Survey documents for the property ( documentatie
  cadastrala) construction authorization, abstract
  for the house/apartment, location slip,
  intabulare (certifies the ownership)

• If the construction of the house/apartment is not
  yet finalized
• An estimate of the construction plan and/or a
  finance plan made by the developer
• The details of the finance plan are discussed
  with the bank

• Necessary documents required for a land
  acquisition
• - The land must have the grade yard
  constructionor arable
• - It must be near to a city where Volksbank has
  at least one branch and it must be placed in a
  location with residential potential
• An authenticated declaration from the seller/
  attestor in which is mentioned that there are no
  litigations, notifications or any other disputed
  issues concerning the land
• Ownership documents
• A city planning certificate ( not older than 1
  year)

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For any other questions, please contact us Safe
property Investments 13 Curtis Way,BerkhamstedHe
rtfordshireHP4 2LPTel. 0044(0)1442384987fax
0044(0)1442386360 Mob [phone]