If you want to buy real estate from a development company and you have the appropriate income but you are unable to provide the necessary amount or additional security guarantee, Terabank's innovative product mortgage leasing offers you an additional opportunity.
In order to use mortgage leasing, it is enough to submit at least 5% of the asset's value in GEL and 10% in foreign currency. The leasing company will purchase the desired property from the developer and hand it over to you under the relevant agreement.
After reducing the leasing debt with monthly payments and collecting the appropriate amount of co-payment, your financing will continue with a standard mortgage loan.
*The effective interest rate is calculated for 100,000 GEL. Term - 84 months.
Loan Parameters
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Amount
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min - 1,000 GEL
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max-individually*
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Currency
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GEL, USD, EUR (loans up to 300,000 GEL are disbursed only in GEL)
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Maturity
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GEL - 15 years
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USD, EUR – 10 years
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Disbursement fee
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0.5 %(min.50 units)
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Annual interest rate
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GEL – Index + from 3.3%
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USD(Libor-based variable rate) - from 7.45%
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EURO(Euribor-based variable rate)- from 7.1%
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Effective interest rate
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GEL- from 14.7%
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USD - from 7.9%
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EUR - from 7.5%
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collateral
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Real Estate |
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Co-borrower
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Yes |
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Contribution
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GEL - 5%
USD, EUR – 10%
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Fee for retrieving information from Credit Info database
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18 GEL/6 USD/6 EUR
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*A loan or bank credit for amounts less than 300,000 GEL can only be issued in the national currency, except when the borrower's income and the loan are in the same currency.