Fibank (First Investment Bank) is improving the annual interest rate on its “Right to Choose” home loan to 2.15%. The new terms apply to the purchase of a residential property, the refinancing of a home loan or reimbursement of funds for a purchased property.
The lower interest rate gives customers planning to purchase a home the opportunity to finance their new home on more favourable terms. For anyone already repaying a mortgage with another bank, the offer provides an opportunity to consider refinancing in order to optimise costs.
The “Right to Choose” loan is offered with a repayment term of up to 30 years. There is no predetermined maximum loan amount—the specific sum depends on an individual assessment, with financing of up to 85% of the market value of the property serving as collateral. Repayment is made in equal monthly instalments. Customers can also submit an application online, and no application or legal service fees are charged.
The loan allows customers to purchase a home as early as the “shell and core” construction stage, as well as to obtain additional financing for renovations and improvements to the purchased property. The renovation funds can be included in the home loan, without requiring the submission of invoices or other supporting expenditure documents.
Customers can apply for preliminary approval based on their financial indicators even before choosing a specific property. This enables them to plan their budget and focus their property search.
Fibank is also improving the terms of its mortgage loan for Bulgarians with income from abroad. The product is intended for Bulgarian citizens who work under permanent employment contracts or are self-employed in countries of the European Union and the European Economic Area, as well as in Switzerland, the United Kingdom, the United States and Canada. In addition to purchasing real estate in Bulgaria, the product can be used to repay existing liabilities or for current needs.
More information about the terms and application options is available online at: https://www.fibank.bg/bg/chastni-lica/krediti/jilishtni-i-ipotechni-krediti/ipotechen-kredit-za-bylgarski-grajdani-s-dohod-ot-chujbina and at First Investment Bank offices across the country.