Refinancing Mortgage loans

About the credit

gPurpose

refinancing of mortgages granted by other financial institutions

kTerm

Minimum 13 months

Maximum 360 months

h Maximum credit amount

up to 100% of the project cost

Advantages

  • Now you can have a house with much more comfortable conditions than the house for which you have been saving money for years
  • Pay for your own home, not for rent
  • The purchased real estate or another residential real estate is accepted as a collateral
  • The long term of the credit allows considerably reducing the amount of the monthly repayment rates
  • You can be owner of your own home or improve your living conditions starting from today
  • Benefit from free revaluation of the real estate for the entire credit period
  • Low costs, transparent and flexible credit conditions
  • Quick examination of credit applications

Eligibility criteria of the applicant

  • citizenship of the Republic of Moldova or foreign citizenship / statelessness – tax residence of the Republic of Moldova
  • minimum age of 18 years old at the date of credit issuance
  • maximum age of 65 years old at the maturity date of the credit
  • official income and capacity to pay that meets the bank requirements
  • at least 6 months of work at the current job and at least 6 salary records in the State Tax Service Report
  • no credits/ loans subject to enforcement in the last 3 years

Required documents

  • documents confirming the monthly income of the applicant and the co-debtor(s) – the salary is extracted from the database of the State Tax Service/ the certificate confirming the military pension and other types of pensions/ confirmation of receipt of remittances/ lease contract/ declaration of income/ employment contract from abroad (for co-debtor)/ decision on distribution of dividends and others (as applicable)
  • a copy of the individual employment contract and its last addendum (at the request of the bank, if applicable)
  • the identity card and the supplementary sheet of the applicant and the co-debtor(s)
  • upon purchase of residential real estate – the sale and purchase pre-contract or the sale and purchase contract with payment in instalments, authenticated, concluded with the natural or legal person that is selling the dwelling, specifying its selling price, address, payment procedure and the amount paid as an advance, or the contract of investments in constructions and/or the certificate of transfer and acceptance, or other documents from which the value of the purchased real estate results
  • upon construction/ modernization/ consolidation/ rehabilitation/ extension/ completion of the residential real estate – the cost estimate, other documents from which the value of the financed project results
  • upon purchase of a land plot for residential construction, only in the case of financing of the construction project – the seller's title deed for the land plot concerned, building permit, town planning certificate, technical execution project, cost estimate and cost estimate evaluation report, other documents from which the value of the financed project results
  • in case of refinancing of the real estate credit/ loan issued by another financial institution – information on the balance of the refinanced real estate/ mortgage credit (e.g. account statement showing the balance of the contracted credit/ certified by the bank/ credit contract/ repayment schedule), the agreement of the bank that initially issued the credit with the subsequent mortgage (as the case may be)
  • the title deeds of the real estate provided as collateral
  • the excerpt from the Real Estate Register issued by the Public Services Agency
  • the valuation report of the real estate provided as collateral
  • the insurance policy of the real estate provided as collateral

Costs

  • Now you can personally choose the interest rate:
  • 7.9% FIXED in the first 24 months and then FLOATING or
  • FLOATING for the entire term of the loan.

The FLOATING interest will initially be set at the value of:

Offer 1

7.38% floating Interest rate – for customers who meet one of the following conditions: employees of budgetary institutions within salary projects, are employed in the IT field, work in a company providing accounting services, private medical sector, private education or in a company with over 500 employees

Offer 2

7.88% floating Interest rate – for customers who meet one of the following conditions: work in a private company from 101 to 500 employees or receive their salary on a Victoriabank card

Standard Offer

8.38% floating Interest rate – for customers who do not meet any of the specific conditions mentioned above

  • File analysis commission - 0 MDL
  • Annual Commission - 500 MDL

Example of calculation

For a credit in the amount of 750,000.00 MDL for a term of 25 years, the following payments are expected:

For the 7.9% FIXED Interest Rate in the first 24 months, and starting from the 25th month - 7.38% floating, the monthly payment is 5,739.03 MDL during the period of application of the fixed rate and 5,493.83 MDL for the floating rate. The effective annual interest rate is 7.84%, and the total amount payable (loan amount + all related costs) is 1,666,863.02 MDL.

For the 7.38% floating Interest Rate, the monthly payment is 5,484.03 MDL. The effective annual interest rate is 7.72%, and the total amount payable (loan amount + all related costs) is 1,657,204.95 MDL.

VB24