• The total monthly income of the individual or spouses to be up to EUR 900
• The cost of the housing facility to be up to EUR 900 per square meter
• To not own, common own with spouse or spouse own an apartment or house, or will have only one apartment or house that will be sold/ruining for buying/building a bigger apartment or house
• The apartment is bought directly from the developer or contractor of the housing facility, and the house which is being built is a new building with all necessary documentation (property, permits and approvals for construction).

1. MODEL "INSTALMENT"

• Buying a new apartment

• the Government will participate with 50% of the monthly instalment for the first five years

• Building/Buying a new house

• the Government will participate with 70% of the monthly instalment for the first five years

2. MODEL "PARTICIPATION"

• Buying a new apartment

• the Government will participate with 50% of the down payment amount for buying an apartment, maximum EUR 6,500 for loan up to EUR 50,000

• Building/Buying a new house

• the Government will participate with 75% of the downpayment amount for buying/building a house, maximum EUR 9,375 for a loan up to EUR 50,000

• 1% of the loan amount
• Evaluator expenses, expenses for mortgage booking and insurable property insurance
• Application fee - MKD 150 - for every received application, regardless the loan approval
• Other fees according to the tariff

Pre-payment:

• 0% if the financing of the loan is from own funds
• 3% penalty fee on the prepaid amount.

• the client does not owns or his partner (spouse) does not owns an apartment i.e. house in RM
• owns or his partner (spouse) owns only one apartment or house in RM that will be sold due to obtaining bigger apartment, i.e. building/buying bigger house
• the client or his partner (spouse) is not using other housing loan at the time of applying for the subsidized loan
• the client that is not married has total monthly income of EUR 900 in MKD counter value, at the time of applying for the subsidized loan
• the monthly income of the client and his partner (spouse) is not exceeding EUR 900 in MKD counter value, at the time of applying for the subsidized loan
• the client shall obtain notary statement that they will not rent the apartment i.e. house and that will not additionally burden the real estate with mortgage and that will not transfer the ownership to other parties during the first 5 years of the day of disbursing the loan
• the price of m2 should not exceed EUR 900 in MKD counter value; if the amount is higher only the stipulated amount will be subsidized
• the tenor should be > 20 years

• According to the CPM the Bank makes pre-approval of the loan and the same is forwarded to the Ministry of Finance in order to receive their final approval for the subsidized amount
• The pre-approval should include the total amount of the loan and the dynamics of the repayment
• The Bank is obliged during 15 days of the applying to bring decision for the subsidized loan
• The Bank is obliged within 3 days of making the previously mentioned Decision (pre-approval) to inform the Ministry of Finance
• The pre-approval will be sent to the Ministry of Finance on special template (in preparation) prepared by the Ministry itself
• The Ministry of Finance will give advantage to the applicants with lower income and lower loan application; the selection is made electronically by the Ministry of Finance.

• If the borrower ceases to repay the subsidized loan (90 or 180 days), the Bank terminates the contract and the loan will be considered as fully due; therefore the Bank will undertake activities for forced payment of the loan
• In this case, the Bank is obliged immediately after receiving the full payment (with the forced payment) to transfer the funds to the Ministry of Finance
• If the Bank and the Ministry of Finance have findings that the funds approved as subsidy are not used in accordance with the stipulated terms and the contract, or if the data upon which the decision was brought are not correct they have the obligation to undertake measures and announce the loan as due hence undertake actions for forced payment 3% prepaid principal penalty fee;
• If the financing of the loan is from own funds (down payment) the Bank will not charge the client with the 3% penalty fee;
• If the loan is pre-paid within the first ten years total amount of the subsidy should be returned to the Ministry of Finance, in case of pre-payment after the ten years of the loan disbursement subsidy is irreversible.

• 1st rank mortgage (2nd and 3rd rank mortgages possible only if Alpha Bank AD Skopje is the sole mortgage trustee) on the real estate property that is bought or other real estate property in ownership of the loan applicant or co-applicant (acceptable categories: residential buildings in urban habitats - flats, houses etc., residential buildings in rural habitats - weekend cottage etc.)
• Value of the mortgage:
           - min. 143% from the value of the loan for purchase/building of first habitat, depending on the location and the state of the mortgage and according to the delivered value for assessment of the mortgage performed by authorized evaluator accepted by the Bank;

• Draft and consent form for draft signed by the loan applicant and co-applicants
• Administrative ban is anticipated if accepted by all parties (Company - Bank - Loan applicant/co-applicants)

• Insurance of the collateral property from all risks in favour of the Bank.
• Insurance of the property until the duration of the loan

Contact us