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ARE YOU INDIVIDUAL
DEVELOPER? |
Individual Developer
is the mortgage loan for financing the construction of
buildings, apartments and houses. The
maximum amount of the loan is between 50 - 60% of the
rateable value, depending on the type of construction,
and mortgage loans are available for terms of up to
25 years (for adjustable rate or mixed mortgage loans).
There is a grace period during
which the client only pays the interest accruing on
the loan, without repayment of capital. This period
may be 1-2 years.
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What are the
main
advantages? |
The most important advantage
of our Individual Developer Mortgage loan is that the
client receives several amounts in different phases,
up to the total amount of the loan granted. It is, therefore,
only paying interest on the amount actually borrowed.
Another advantage is that you
begin to amortize capital when the construction is finished,
thus meeting smaller payments (interest only) during
the development time. |
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Who is it for? |
lndividual Development Loans are especially designed for
those owning or who are going to purchase a plot with
a view to building a house on it.
In the case of natural
persons, as individual entrepreneurs, making housing
promotions for subsequent sale, there are specific operations
for which you may consult us for further information.
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