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Eligible persons:

This product addresses the individuals who cumulatively accomplish the following criteria:

• For Romanian citizens, residents, with a wide range of revenues on the Romanian territory or abroad.
• Minimum age: 20 years old, while the maximum age at the end of the lending period should be 70 years old.
• They must not be owners of a house and they should not have an on-going mortgage loan.

Advantages:

Financing of up to 95% of the value of the investment (according to the government decision (HG) No. 717/2009 with its subsequent amendments and adjustments)

• Very advantageous costs
• No life insurance needed

Characteristics of the product:

Destination:

The destination of the loan is to purchase or to build a first house (according to the government decision (HG) No. 717/2009 with its subsequent amendments and adjustments)

Lending period: maximum 30 years

Currency: RON, EUR

Advance payment:

Minimum 5% of the purchase/building value (according to the government decision (HG) No. 717/2009 with its subsequent amendments and adjustments)

• Costs:

Interest:

Loans in EURO:
Currency: EURIBOR (3M+ 3.95% p.a. bank margin)
DAE (annual real interest) = 5.21% (computed for a loan amounting to Euro 57,000 granted for period of 30 years, with EURIBOR at 3 month dated 15.03.2010)

Loan in RON:
Interest: ROBOR 3M + 2.45% p.a. bank margin
DAE (annual real interest) = 9.73%p.a.(computed for a loan of RON 233,296 granted for period of 30 years, with ROBOR at 15.03.2010)

Commissions:

• Lending commission: 0;
• Monthly administration commission: 0;
• Early reimbursement commission: 0;
• Annual commission for administration owed to FNGCIMM (National Guarantee Fund for Loans to SMEs): 0.49% p.a. computed to the financing balance;

Insurance of the purchased real estate asset – cost borne by the Client. The compensation rights will be transferred in favour of the Romanian state, represented by the Ministry of Public Finance.

Appraisal of the asset - cost borne by the client.

Co-debtors: maximum 2  co-debtors accepted;

Age of the borrower /co-debtor: 20-70 years old (at the end of the lending period)

Guarantees:

• First rank mortgage over the building financed through the credit, established in favour of the Romanian state represented by the Ministry of Finance;
• Collateral deposit at Bank Leumi Romania SA in order to secure the interest, valid for all the lending period, with the value equal to the first three  months of installment;
• Real movable guarantee contract over the credit balance of all the accounts of the borrower opened with Bank Leumi România;
• Guarantee issued by FNGCIMM.

Accepted revenues: salary, rent, pensions, copyright, consultancy/assistance, free-lance, annuity for life, dividends, services provided, revenues obtained by navigators, revenues from abroad.

Documents requested:

• Credit application (in the standard template of the bank)  
• Statutory declaration, authenticated, in order to confirm the fact that the beneficiaries of the loan have not owned and are not owners, individually or jointly, together with their husbands/wives or with other persons, of a house, regardless of the way the property was attained, except for the ownership percentage attained by having inherited it, and that they did not purchase after this date a house, regardless of the way it was attained;
• Identity documents;
• Substantiation documents for revenues (i.e.: revenues certification in the standard template used by the bank, fiscal certificate a.s.o.);
• Legal documents for the purchased real estate;