Hypothec (mortgage) has become possible in Croatia for a luxury project in Umag area

Hypothec (mortgage) has become possible in Croatia for a luxury project in Umag area

Special hypothec offer for financing purchase of apartments/villas is offered to the buyers of new 5**** star properties in Umag area new luxury resort.

This is a super-luxury destination in Kempinski and Skiper resorts neighbourhood just a few km from Slovenian border, overlooking Piran Bay and Slovenian coast.
Beach is 200 meters from the resort, a concession for exclusive use is being obtained. Beachline with wooden sundecks will be arranged.

Estimated date of construction completion is June 2022.
Exceptional infrastructure of the resort will include:

  • concierge service 24/7
  • wellness and spa centre
  • rooftop infinity pool
  • gym studio
  • rooftop fine-dining restaurant with amazing panoramic views
  • garden pool
  • garden restaurants and cafes (Italian cuisine restaurant, Steakhouse, etc.)
  • pools, playgrounds and other amenities for children
  • 18-hole golf-course

Mortgage/finance in issues upon the following conditions stated below.

For individual private persons/buyers

Hypothec can be issued to the residents of EU who have incomes in EU currency.

Term of credit: max 30 years
Payment: by monthly installments (credit and interests)
Own capital: min 30% of property value
Collateral: pledge of real estate, loan up to 70% of collateral value
Account opening in Slovenia with regular inflow is obligatory
Timing: loan is issued after own capital is paid, after account with appointed bank is opened, after usage permit for purchased property is received.

Interest rates can be fixed or variable:
fixed rates
1-10 years – 1,7%
11-20 years – 2,1%
variable rates
1-10 years – 6m Euribor + 1,35%
11-20 years – 6m Euribor + 1,50%
21-30 years -6m Euribor + 1,60%

Cost and fees:

  • approval fee: 980 eur
  • notary costs
  • appraisal – free

Documents required:

  • passport copy
  • certificate of employment
  • statement of income for 2019, 2020
  • statement of indebtedness
  • bank statement of account
  • additional documents can be required

For corporate buyers

Mortgage finance can be provided to Croatian or EU company.

Term of credit: max 12 years
Payment: by quarterly equal credit installments
Interest rate: 6mEuribor +3%, quarterly interest payment

Own capital: min 30% of property value; 50% in case of SPV founded for the purpose of purchasing real estate and renting out the property is the only income
Appropriate creditworthiness required and cash flow.
Collateral: pledge of real estate, loan up to 70% of collateral value or 50% in case of SPV
Account opening in Slovenia with regular inflow is obligatory (or SPV account).
Timing: loan is issued after own capital is paid, after account with appointed bank is opened, after usage permit for purchased property is received.

Cost and fees:

  • approval fee: 0,5%
  • management fee: 0,1% once a year on outstanding loan balance
  • notary costs
  • appraisal – free

Please, do not hesitate to make an inquiry.

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