Bancherul - BANCI / ENGLISH / Millennium Bank offers mortgage loan conditions comparable to First House

Millennium Bank provides a mortgage loan with benefits comparable to First House conditions.

The minimum down payment is of only 10%, and the margin applied to 3 month Euribor/Robor starts from 5%, depending on the financed amount and clients’ option to transfer their income to the bank. In addition, for the standard Mortgage Loan, the client does not have to pledge a collateral deposit and does not pay an annual fee, such as the one for the National Guarantee Fund of SME Loans.

The bank used the entire limit of 6.5 million euros granted by the National Guarantee Fund of SME Loans for First House loans.

“Millennium Bank’s Mortgage Loan is a good alternative to clients who want to buy a house and can no longer access First House loans. We lowered the minimum down payment to 10% and the interest rate is also comparable to First House. Millennium Bank’s goal is to be among clients’ first options when deciding to contract a Mortgage Loan, whether it is for buying a house or for refinancing other debt”, Eliza Erhan, Head of Retail Product Development with Millennium Bank, stated in a press release.

For instance, a Mortgage Loan of 40,000 euros, contracted for 30 years, by a client who transfers his salary to the bank, has an EAI of 6.81% and a monthly instalment of 255 euros.

Customers who contract a Mortgage Loan benefit from free life insurance and zero administration fee. The tenor is 30 years.