In the process of preliminary approval of the borrower as a person capable of paying off its credit obligation, the bank will require:
- to fill in a request form for a credit, available at the bank;
- identity card, marital status certificate and certificate of tax liabilities;
- your employer’s certificate of the size of your salary and all other documents verifying supplementary income – lease agreements, management contracts, civic contracts, etc.
This stage may take several days to complete, and it is advisable to finish with it before you choose a specific property so that you can have an idea what financial means can be lent by the bank and what will be the expenses for paying off the loan.
At the final approval stage, evaluation of the specific property to be mortgaged is done. The seller has to present the following documents:
- plan of the property,
- scheme of the apartment within the building;
- encumbrance certificate;
- document of real estate property ownership;
- certificate of real estate property tax evaluation;
- practical completion certificate with rights of use;
- current status of the seller, BULSTAT Unified identification code, as well as decision to sell of the seller’s management board;
- evaluation by an independent appraiser.
In case the building is still under construction, the following additional documents will be necessary:
- A copy of the architectural design;
- Building permit;
- Floor area calculation of the building;
- Statement of findings of completed shell structure (Act 14), etc.
The banks often require other specific documents as well, therefore first get acquainted with the full list of documents demanded by your bank.