Who does not dream about buying the first home? It is easy to get carried away with the idea of buying a house, but it is important to live within your means. BOV can help you make the right choices.
A new chapter in your life means it is finally time to own the home you have been dreaming of. At BOV we understand that this first step can be made even easier with our support. In order to make budgeting easier, we have prepared a unique package aimed specifically at offering first-time buyers exclusive benefits.
The main benefits include:
Loans are subject to normal Bank lending criteria and final approval from your BOV Branch. The term of the loan must not go beyond retirement age. A minimum contribution of 10% of the purchase price and completion works (where applicable) is required. A 'European Standardised Information Sheet' (ESIS) will be provided from any BOV branch on inquiry. All relative charges, terms and conditions are quoted in the relative sanction letter.
This home loan product is a credit agreement and may be secured by a hypothec or privilege on residential immovable property and/or by a right related to residential immovable property.In order to obtain the credit, you will also be required to pledge, in favour of the Bank, a life assurance policy covering the loan amount being financed, and a buildings replacement policy, the cost of which cannot be determined in advance. In the case of foreign currency loans, possible fluctuations of the exchange rate could affect the loan amount repayable. In the event of non-observance of the commitments linked to the credit agreement, you may risk losing the immovable property.