Loan for land acquisition
Loan for land acquisition
Have you thought about buying your own land? Buying land can be a challenging process and we will help you understand your borrowing options and find the most suitable financing solution.
| Loan type | Interest rate per year | Financing | Down payment | Loan amount | Loan repayment period | Asset valuation | Pledge | Disbursement of money |
|---|---|---|---|---|---|---|---|---|
| Consumer loan for the purchase of land without real estate collateral up to EUR 30,000 | From 9 % | Up to 100 % | - | From EUR 2,000 to EURl 30,000 | Up to 10 years | - | - | To the customer’s account right after signing the agreement |
| Additional conditions: Land ownership must be registered in the customer’s name within 90 days of signing the agreement. The plot of land to be acquired is not evaluated (no asset valuation is required, the possibility of building a house, the electricity connection, etc. is not assessed before signing the agreement). Typical example: if loan amount is EUR 9,000, fixed annual interest rate is 9 %, loan term is 84 months, agreement fee is EUR 135, monthly account commission fee EUR 1.30, then monthly payment is EUR 144.80, total repayment amount – EUR 12,407.40, annual percentage rate of charge (APR) – 10.22 %. |
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| Housing loan for land acquisition with a down payment of 35 % | From 2.5 %+6‑month Euribor | Up to 65 % of the value or purchase price, taking into account which of them is of lower value | From 35 % | From EUR 10,000 to EUR 50,000 | Up to 7 years | For the land | Plot of land | To the customer’s account |
| Additional conditions: Access to the land must be legally guaranteed, and electricity must be connected before the disbursement of money. It is allowed to build a house on the plot of land. Typical example: if loan amount is EUR 80,000, variable annual interest rate is 1,9 %, agreement fee EUR 400, contract duration is 25 years, mortgage registration fee for SE Centre of Registers is EUR 8.60, then monthly instalment will be EUR 335.19, total amount paid by the borrower EUR 101,050.00, and annual percentage rate of charge (APR) – 1,93 %. Important: Pledged collateral must be insured. Notary fees, real estate evaluation and insurance costs are not known to the bank and therefore are not included in the annual percentage rate of charge. Your loan is guaranteed against your home. Your home may be repossessed if you do not keep up with repayments. |
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| Idea loan for the purchase of land by pledging an existing property | From 2.5 %+6‑month Euribor | Up to 70 % of the pledged object value, 15 % down payment is needed | – | From EUR 10,000 | Up to 30 years | For the pledged object | Existing real estate | To the customer’s account |
| Additional conditions: the plot of land to be acquired is not evaluated (no asset valuation is required, the possibility of building a house, the electricity connection, etc. is not assessed before signing the agreement). Typical example: if loan amount is EUR 60,000, variable annual interest rate is 3,4 %, agreement fee is EUR 300, contract duration is 20 years, mortgage registration fee for SE Centre of Registers is EUR 8.60, then monthly instalment will be EUR 344.58, total amount paid by the borrower EUR 83,010.33, and annual percentage rate of charge (APR) – 3,51 %. |
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