Credit on the security of immovable property (mortgage credit) is beneficial credit solution for anyone owning immovable property in Latvia: house, apartment or land. Mortgage credit allows realizing intentions – make repairs, improve home or realize a bigger dream. Interest rate for this credit is lower than for short-term credits and offered repayment term is up to 20 years.
Credit receipt provisions
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Credit may be received by any person owning immovable property in Latvia (house, apartment, land)
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Credit repayment term: 6 months to 20 years
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if term does not exceed 24 months, it is possible to only pay interest monthly, and the basic amount – in the end of term
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if terms exceeds 24 months, interest and part of basic amount must be paid monthly
- Credit amount: from EUR 1,000
- Title document (land register certificate, certificate of title before privatization of a residential house)
- Copy of technical inventory file (if property is registered in land register)
- Owner’s passport and copy of spouse’s passport
- Last bill for communal payments
- If mortgage credit amount exceeds 100 minimum monthly wages, certificate of the State Revenue Service must be submitted
