Energy-efficient purchase mortgage loans are provided to those resident individuals of Armenia over 18 years old, who will not reach the pension age during the whole loan validity period. Energy-efficient purchase mortgage loans are provided to purchase energy efficient residential real estate in Armenia.
In cases mentioned in the points 2, 3 and 4 the number of repayments of the main amount should comprise at least 2, and the interest amounts should be repaid each month.
Requirements presented to the Borrower – the borrower (co-borrower) shouldn’t have a current overdue obligation, all the loan obligations should be categorized as standard, and the total number of overdue days during the last 12 months shouldn’t exceed 30 calendar days.
Appropriation of collateral
PROPERTY PLEDGED AS COLLATERAL MAY BE SEIZED / APPROPRIATED IN CASE OF FAILURE BY THE BORROWER TO MAKE TIMELY REPAYMENTS OF LOAN AND INTEREST. WHERE COLLATERAL IS INSUFFICIENT TO MEET ALL RELEVANT OBLIGATIONS, RECOURSE MAY BE MADE TO OTHER PROPERTY OWNED BY THE BORROWER.
Information provided to the credit registry
IN CASE OF FAILURE BY THE BORROWER TO PAY INTEREST ON THE LOAN AND PRINCIPAL THEREOF IN ACCORDANCE WITH THE REPAYMENT SCHEDULE, INFORMATION ABOUT THE BORROWER WILL BE SUBMITTED TO THE CREDIT REGISTRY.
“BAD” CREDIT HISTORY MAY IMPAIR YOUR ABILITY TO OBTAIN LOANS / CREDITS IN THE FUTURE.