This type of credit (fast credit) is addressed to authorized individuals with real estate collateral in Bucharest and Ilfov County, which need funding to support the activity.
Financing through this type of credit is a quick solution for authorized individuals who need urgent liquidity. By calling on this service, loyal customers of IFN EXTRA FINANCE S.A can better focus on development opportunities. The benefits of this type of credit include professionalism, flexibility, speed and substantial cost savings based on customer history.
IFN EXTRA FINANCE S.A differs from the competition through personalised offers to its clients, having a well-developed analysis and awarding process, with special offers tailored to the needs and financial possibilities of the applicants.
Minimum ceiling: does not exist
Maximum Ceiling: 250,000 Euro or equivalent in RON, provided that the guarantee is at least 250% of the approved ceiling.
Type of credit: mortgage-backed mortgage loan with monthly payments at maturity on the basis of balance and interest reimbursement, granted in RON or EURO;
Type of applicable interest rate: Fixed interest over the entire credit period under the credit agreement, calculated at the balance between 24% and 48% / year (negotiable and may also be reduced based on customer history).
Type of effective annual interest rate: The DAE remains FIXED for the entire credit period under the credit agreement.
Duration of contract: Maximum 5 years (60 months).
Money Disbursement: The amount of the credit will be transferred to the current account provided by the borrower on the day of signing the credit and mortgage contracts at IFN Extra Finance S.A.
The credit offer can not be considered as an endorsement of the customer's request to provide a product or service of IFN Extra Finance S.A., which is an undertaking for IFN Extra Finance S.A. only after approval of the credit granting and the submission of a personalised offer. IFN Extra Finance S.A. provide the applicant with adequate explanations to enable the applicant to assess whether the proposed credit offer and the proposed credit agreement are tailored to its needs and financial situation.
Once a credit file has been prepared with all the necessary documents, it takes a period of 1 working day for analysis and response. In case of an unfavourable answer, the choice made will be motivated. In case of a favorable answer, the credit will be signed within maximum 5 days depending on the valuation, the notarial obligations (eg the deposit of the land book extract for authentication, obtaining the tax certificate) and the insurance of the building.
Interest is fixed throughout the credit period under the credit agreement is between 24% -48% / year (it is negotiable and can also be reduced based on customer history).
- Annual Effective Interest Rate (DAE)
The effective annual interest rate, hereafter referred to as the DAE, is equal for a period of one year to the present value of all present, or future commitments, withdrawals, reimbursements and costs agreed by IFN EXTRA FINANCE S.A. and customer.
DAE is calculated according to the following formula:
- X is DAE;
-is the number of the last draw;
- k is the number of a draw, thus 1≤k≤m;
- Ck is the firing value k;
- tk is the interval, expressed in years and fractions of the year, between the date of the first draw and the date of each subsequent draw, thus t1 = 0;
- m 'is the number of the last reimbursement or cost incurred;
- l is the number of a reimbursement or cost incurred;
- Mr. is the amount of a refund or costs incurred;
- Sl is the interval, expressed in years and fractions of the year, between the date of the first drawdown and the date of each reimbursement or cost incurred.
DAE remains FIXED for the entire credit period under the credit agreement. The calculation of the EAD took into account the hypothesis that the credit agreement is to remain valid for the agreed period, and IFN EXTRA FINANCE S.A. and the Borrower will fulfill their obligations under the terms and within the agreed credit terms.
Obtaining credit under agreed terms and conditions is conditional on the conclusion of a mortgage contract involving notary fees and the conclusion of an insurance to guarantee repayment of the loan (the secured property). The costs of these services are not known by the lender, so they are not included in the DAE calculation.
Representative calculation example for ROL credit:
For a guaranteed mortgage loan of ROL 50,000 taken over a period of 5 years (60 months), with payment in 60 equal monthly installments, with a fixed interest rate of 36% per year , The DAE is 43.27%, the total monthly payment is 1.806,65 lei, the analytical commission 1% of the granted amount 500 lei, payable only once, within 48 hours from the signing of the credit contract and the contract of mortgage, and the total amount paid by the client is 108,898.70 lei.
IFN EXTRA FINANCE S.A. perceives the following types of fees:
Costs to be paid once
GRANT: 1% of the amount granted, which will be paid within 48 hours of the granting of the credit.
TOTAL ANTI-CORRUPTION REIMBURSEMENT: 1% of outstanding balance
PARTIALLY ANTICIPATED REIMBURSEMENT: 1% of the prepaid amount refunded
IFN EXTRA FINANCE S.A. may accept, at the Customer's request, the following operations, at no additional cost:
- rescheduling / rescheduling credit;
- modification of contract terms by additional acts.
Other costs incurred by the Customer, but may be taken from the credit include:
Evaluation of real estate (collateral) with an appraiser approved by IFN EXTRA FINANCE S.A. or chosen by the customer until the customer acceptance of the contractual conditions and signing the loan agreement and mortgage; The customer may choose whether the assessment is performed by an appraiser hired / paid by the lender or is carried by another evaluator. If the client decides that the evaluation is conducted by an evaluator who is not employed / remunerated IFN EXTRA FINANCE SA, the customer may choose between an evaluator from a list proposed by the creditor at least 15 evaluators and any other assessor authorized member of the National Association of Certified Appraisers in Romania. In this case, the evaluation is performed under a service contract concluded with the client assessment. EXTRA IFN FINANCE S.A. assessor chosen by the client communicates standard format, without undue delay.
Ensuring the mortgaged property with an insurer chosen by the customer, until the customer acceptance of the contractual conditions and signing the loan agreement and mortgage (guarantee shall be renewed annually throughout lending); The Customer undertakes to conclude and renew annually for all risks insurance policy on mortgaged the entire period until the complete liquidation of the loan or by redeeming the foreclosure proceedings and notify IFN EXTRA FINANCE S.A. and the insurance company on the occurrence of any insured event later than 24 hours after its occurrence, according to legal obligations or the contract of insurance.
If the client does not end, extended or maintain the validity, in a prompt and satisfactory cover for all risks to the mortgaged property, IFN EXTRA FINANCE S.A. has the right, without undertakes to Customer in this respect, to conclude such a policy in conditions that it deems satisfactory, Customer's expense. To this end, the Customer authorizes IFN EXTRA FINANCE S.A. to choose and establish contractual clauses insurer and the insured risks. Expenses incurred for the purpose stated above shall be considered due on the date of actual payment by the insurance company, IFN EXTRA FINANCE S.A. then recover the priority equivalent insurance premiums so paid.
If the client has a home insurance at the conclusion of the credit agreement, it must contain at least the following risks: earthquake, floods, natural, collapsing land, storm, hurricane, tornado and other atmospheric phenomena associated, avalanches and collapses snow, fire, explosion and, moreover, must be divested in favor of IFN EXTRA FINANCE SA the loan amount contracted for the entire loan period, to liquidate their entirety.
Throughout this Agreement, in the event of any event affecting the property / buildings up / up collateral credit, the Client has an obligation to allow and facilitate finding the causes and extent of the consequences of that event, including through access to property / estate's representatives insurer of property / real estate or of technical experts and / or assessors and present Creditor all documents entered into by the competent people on the production of this event.
IFN EXTRA FINANCE S.A. does not require the customer property insurance contract with a company to the warranty agreed.
The conclusion of the mortgage contract. Notary fees related authentication mortgage contract and registration / modification / deletion guarantee: amount of these charges are not known by Extra IFN Finance S.A. It was established by notary and calculated according to the amount of credit; The estimated amount of these taxes may rise between 0.4-1% of the loan;
|The guarantees of this type of credit are as follows:
· Any client / client and / or fidelity income (including salaries, fees, shares, dividends, pensions, daily allowances, rents, copyrights, etc.);
· Contract of fidelity signed by PFA;
· Mortgage I and the prohibition of alienation and strike with charges on the funded property and / or, as the case may be, on another property owned by the applicant or a third party;
· The mortgage-backed property insurance policy against all the related risks, assigned to IFN Extra Finance S.A. throughout the credit period.
- Papers required PFA
- PFA operating license, registered with the Trade Register
- Identity PF Act
- Affiliation Statement Accessing the Credit Risk Center (CRC)
- Statement of tax on income submitted to tax authorities and the amount of debts with which it is registered
- Estimated income statement for the current year submitted to the tax authorities
- Fiscal attestation certificate
- Any other documents requested by IFN as appropriate
- Required documents required under warranty
- Property title;
- Purchase / donation / inheritance agreement
- Cadastre and registration obtained after the acquisition of the right of ownership;
- Disassembly / Alignment Act (if surface modifications have been made)
- Urban certificate.
Land + construction:
- Purchase / donation / inheritance agreement
- Construction Authorization, Worksheet Minutes, Building Construction Certificate (Optional, as applicable);
- Cadastre and registration (including releveu) obtained from the acquisition of the right of ownership;
- Energy performance certificate (optional);
- Buy-sell / donation / inheritance contract;
- Verbal handover and receipt of proof of full payment (usually for apartments obtained before 2000);
- Cadastre and registration (including relay) obtained after the acquisition of the right
;- Energy performance certificate (optional);
Repayment of the loan is made at equal monthly installments of the principal and the interest calculated on the credit balance descending or in descending monthly installments consisting of equal principal rates and the interest on the declining balance or in a single maturity rate depending on the option customer.
WARNING: Failure to make payments on time could have serious consequences for you (eg enforcement) and make it more difficult to obtain other credits.
In the case of total repayment, the representatives of IFN EXTRA FINANCE S.A. will sign the deletion address in order to delete the prohibitions established in the CF of the mortgaged property and the attestation that there are no longer any contractual obligations to be fulfilled by the borrower.