Mortgages

Mortgages are one of the basic and most popular products provided by GBH Private Bank. A mortgage credit may be used for the purchase, reconstruction, repair or building of one's housing or for the purchase of a plot of land.

What exactly can a mortgage be used for?

• for the purchase of an apartment, family house or commercial property
• for the purchase of a building plot
• for construction, re-building, repair and reconstruction of real estate
• for settling the co-ownership share in the real estate in case there is more than one owner of one property
• for settling inheritance claims in relation to real estate

Advantages of Mortgages from GBH Private Bank:

• above-standard individual consultancy
• possibility of up to 100% financing
• repayment period of up to 30 years
• minimum bureaucracy connected with processing the credit application
• postponement of repayments of the principal by up to 6 months
• low fees
• no sanctions for not making use of the credit up to the total amount
• possibility of repaying the mortgage prematurely with no sanctions
• convenient insurance of real estate, health and life
• helpful and comprehensible explanation of everything related to your mortgage
• certainty, experience and tradition in housing financing
• the minimum sum amounting to USD 30,000.00 USD or EUR 20,000.00
• the maximum sum amounting to USD 2 mil or EUR 1.5 mil

Basic Conditions for Obtaining the Mortgage:

1. The securing of the credit is based on the fact that the mortgage credit always has to be secured with a mortgage lien on the real estate in favor of GBH Private Bank because the property to be acquired usually serves as the object of the mortgage. However, it is possible to secure a mortgage credit also with different real estate, which does not have to be owned by the applicant.
2. The ability of the applicant to make the repayments (creditworthiness) must be substantiated by a sufficient and permanent income for mortgage repayments. You are found creditworthy if, after deducting the monthly mortgage repayment, the calculated subsistence minimum and other regular expenses (e.g. insurance, repayments of hire purchase or other credits), there is a certain financial reserve left.
3. The credit applicant must be of lawful age and in a productive age; we can offer you the credit if you are over 18 years of age and your permanent residence is in the territory of the Dominican Republic or the European Union. Moreover, you must repay the mortgage credit before you reach the age of 70. If the repayment period reaches into your retirement age it is usually necessary to have another guarantor for the granted mortgage.