Refinancing Loan

This product is for people who have loans secured by mortgages outstanding to individuals, banks, non-bank financial institutions or other credit institutions, granted in Ron or Euro (quick loan).  IFN Extra Finance S.A. provides the ability to access a loan with lower rates and even get an additional amount depending on the warranty. For people who have real estate credits in arrears reached or executed, this type of loan can bring peace because IFN Extra Finance S.A  has a rich history of success in refinancing. The guarantee for this type of real estate and credit must be located in Bucharest, Ilfov and in Constanta, including holiday homes and guesthouses.

Limits: maximum EUR 500,000 or the equivalent in RON, provided that the security is at least 250% of the approved cap.

Duration: Maximum 5 years (60 months).

Interest: type = Fixed interest rate throughout the loan period, 36% per year, calculated monthly balance.

 

INTEREST

Interest rate type: fixed throughout the loan period, 36% per year, calculated per monthly balance.

Interest shall be calculated from the date of the credit  financing including, until full repayment and it calculates at the loan balance to be refund, paid off monthly, with the rate loan, at the duedate, according to the schedule of reimbursement, unless agreed on a grace period on principal, while interest on this period will be calculated with the formula below at the loan balance, which remains unchanged for all this grace period and will be paid monthly, on due date, according to repayment schedule.

Interest is calculated as:

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In case of changing the balance or annual interest rate level, the total interest will be composed of the sum of interests charged with the above formula. Where reimbursement is decreasing monthly loan rates, it takes into account the actual number of calendar days.

Where reimbursement is made with equal monthly installments or if applicable in the date of signature of this contract,it is taken into account conventional 30-days month. For the period between the date when the the loan gets to the Client and the first due date (the range 1), interest is calculated according to the same formula, and the result (corresponding to the conventional 30-days month), it reports to the part of the month when the loan was taken by the Customer:

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EFFECTIVE ANNUAL INTEREST RATE

The annual percentage rate, hereinafter APR equals a period of one year, the present value of all commitments, drawdown, repayments and charges, future or existing, agreed by IFN EXTRA FINANCE S.A. and Client.

APR is calculated using the following formula:

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Where:

X is the APR;

m is the number of the last drawdown

k is the number of a drawdown, thus 1≤k≤m;

Ck is the amount of drawdown k;

tk is the interval, expressed in years and fractions of a year, between the date of the first drawdown and the date of each subsequent drawdown, thus t1 = 0;

m 'is the number of the last repayment or costs incurred;

l is the number of a repayment or costs incurred;

Dl is the recoverable value or cost incurred;

Sl is the interval, expressed in years and fractions of a year, between the date of the first drawdown and the date of each repayment or costs incurred.

When calculating the APR was considered the hypothesis that the credit agreement will remain valid for the period agreed and IFN EXTRA FINANCE S.A. and the Borrower will perform under the terms agreed in the credit agreement.

The obtaining of the credit on the terms and conditions agreeded is conditioned by a mortgage contract involving notary fees and insurance for securing the credit (house insurance guaranteed). The costs of these services are not known by the creditor, so are not included in the APR calculation.

Representative example of calculation: For a personal loan guaranteed by mortgages worth 50,000 RON took a period of 5 years (60 months), payable in 60 equal monthly installments with a fixed interest rate of 36% per year, APR is 43.69%, the total monthly payment is 1806.65 RON, management fee is 1.500 RON, payable once within 48 hours of signing the credit agreement and the mortgage contract, and the total amount paid by the customer is RON 108,398.70.

Representative example for calculating the credit in euro: For a personal loan guaranteed by mortgages worth € 50,000 taken over a period of 5 years (60 months), payable in 60 equal monthly installments, fixed interest 48 % per year, the APR is 60.22%, the total monthly payment is 2210.09 euros, 225 euros analysis fee, payable once within 48 hours of signing the credit agreement and the contract mortgage, and the total amount paid by the client is 132,830.75 euros (total amount to be paid by the customer at the time the borrower's national currency is 598,349.40 lei, calculated at an exchange rate of 1 euro = 4 5046).

Note: APR was calculated based on the following assumptions: the credit agreement remains valid for the duration of the agreed credit and interest and other charges will remain fixed in relation to the initial level and will apply for the duration of the loan. Obtaining the credit on the terms and conditions marketed concluding a mortgage contract involving notary fees and insurance for securing the credit (house insurance guaranteed). The costs of these services are not known by the creditor, so are not included in the APR calculation.

COMMISSION

EXTRA FINANCE S.A. charge the following fees:

Costs to be paid only once

Analysis fee for credit in lei 1.000 lei, according to GEO 50/2010 GEO 52/2016 amended through, which will be paid within 48 hours of credit. There is no charge for the analysis if the credit is not granted.

Costs to be paid only once

Analysis fee for credit in euros: 225 euros, according to GEO 50/2010 GEO 52/2016 amended through, which will be paid within 48 hours of credit. There is no charge for the analysis if the credit is not granted.

FEE REIMBURSEMENT OF EARLY TOTAL: 0, according to GEO 50/2010 GEO 52/2016 amended through;

EARLY PARTIAL REFUND FEE: 0 according to GEO 50/2010 as amended by GEO 52/2016

EXTRA IFN FINANCE S.A. can accept the client's request, following at no extra cost:

rescheduling / restructuring credit; modification of the clauses of the contract by addenda.

OTHER COSTS

Other costs incurred by the Customer, but may keep from the credit include:

  1. Expenses on security evaluation by an ANEVAR  member agreed by IFN Extra Finance;
  2. House insurance expenses;

The Customer undertakes to conclude and renew annually for all risks insurance policy of the mortgaged property during 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 not later than 24 hours after its occurrence, according to legal obligations or the insurance contract.

If the client does not close, extend or maintain the validity, in a prompt and satisfactory way the insurance for all risks to the mortgaged property, IFN EXTRA FINANCE has the right, without undertakes to Customer, to conclude such a policy in conditions that it deems satisfactory, on Customer's expense. To this end, the Customer authorizes IFN EXTRA FINANCE S.A. to choose the insurer and establish contractual clauses 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 with insurer the equivalent of the insurance fees 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, natural floods, collapsing land, storm, hurricane, tornado and other atmospheric phenomena associated, avalanches and collapses snow, fire, explosion and, moreover, must be divested in favor of EXTRA FINANCE SA AT the loan amount contracted for the entire loan period, until its full liquidation.

Throughout the contract period, in case of any event affecting the property / buildings / guarantee/ guarantees of the credit, the Client has the obligation to allow and facilitate finding the causes and extent of the consequences of that event, including through access to property / estate for some insurer's representatives  of property / real estate or of technical experts and / or assessors in order to present to the Creditor all documents entered into by the competent agencies on the production of this event.

3. Notary expenses related to the mortgage contract;

Notary fees related to the authentication mortgage contract and registration / modification / deletion of the guarantee: amount of these charges are not known by IFN Extra Finance S.A., those had been 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.

GUARANTEES

The guarantees of this type of loan are:

  1. any income from the Client / clients and / or fidejussor (including salaries, fees, shares, dividends, pensions, daily allowances, rents, royalties, etc.);
  2. mortgage rank I and prohibition of alienation and encumbrance of  duties on real estate finance and / or, where appropriate, on other real estate owned by the applicant or a third person;
  3. insurance policy against all risks relating to the mortgaged property, in favor of IFN Extra Finance S.A. on the entire loan period.

REQUIRED DOCUMENTS

Given the type of guarantee, there are requested the following documents showing the ownership:

Land:

  • Property title;
  • Contract sale-purchase / donation / inheritance;
  • Cadastre and registration obtained from the acquisition of property right;
  • Act dismantling / annealing (if changes were made on surfaces);
  • Urban certificate.

Land + building:

  • Contract sale-purchase / donation / inheritance;
  • Building permit;
  • Minutes reception works (hence obtain building age);
  • Cadastre and registration (including Survey) obtained from acquiring property rights;
  • Urbanism certificate (asking only in special cases);
  • Energy Performance Certificate (optional);

Apartment:

  • Contract sale-purchase / donation / inheritance;
  • Minutes handover and proof of full payment (usually for apartments acquired before 2000);
  • Cadastre and registration (including Survey) obtained from acquiring the property right;
  • Energy Performance Certificate (optional).

In the delivery of an agreement in principle will provide the following minimum documents: ID Client / Clients and guarantor (s) mortgage (s) / guarantor (s) contract sale / donation / inheritance attesting entitlement of property, credit approval will subsequently file to complete the remaining necessary documents, namely land registration, cadastre, surveying, for final approval.

THE WAY OF OBTAINING THE MONEY

The amount for the loan will be transferred to the account provided by the borrower on the day of signing credit contracts and mortgage at Extra Finance S.A. headquarters.

PAYMENT TERMS

Loan repayment shall be made in equal monthly installments, consisting of the main ascending and the interest on the descending loan balance or in monthly installments decreasing mainly made up of equal rates and decreasing interest on balance, at the option of the Customer.

PRECONTRACTUAL INFORMATION AND A REPRESENTATIVE EXEMPLE OF CALCULATION

Representative example for calculating the credit in lei For a personal loan guaranteed by mortgages worth 50,000 lei took a period of 5 years (60 months), payable in 60 equal monthly installments, fixed interest 48 % per year, the APR is 60.22%, the total monthly payment is 2210.09 lei 1.000 lei analysis fee, payable once within 48 hours of signing the credit agreement and the contract mortgage, and the total amount paid by the Client is 133,605.75 lei.

Note: APR was calculated based on the following assumptions: the credit agreement remains valid for the duration of the agreed credit and interest and other charges will remain fixed in relation to the initial level and will apply for the duration of the loan. Obtain the credit on the terms and conditions marketed concluding a mortgage contract involving notary fees and insurance without securing the credit (house insurance guaranteed). The costs of these services are not known by the creditor, so are not included in the APR calculation.

Representative example for calculating the credit in euro For a personal loan guaranteed by mortgages worth € 50,000 taken over a period of 5 years (60 months), payable in 60 equal monthly installments, fixed interest 48 % per year, the APR is 60.22%, the total monthly payment is 2210.09 euros, 225 euros analysis fee, payable once within 48 hours of signing the credit agreement and the contract mortgage, and the total amount paid by the client is 132,830.75 euros (total amount to be paid by the customer at the time the borrower's national currency is 598,349.40 lei, calculated at an exchange rate of 1 euro = 4 5046).

Note: APR was calculated based on the following assumptions: the credit agreement remains valid for the duration of the agreed credit and interest and other charges will remain fixed in relation to the initial level and will apply for the duration of the loan. Obtain the credit on the terms and conditions marketed concluding a mortgage contract involving notary fees and insurance without securing the credit (house insurance guaranteed). The costs of these services are not known by the creditor, so are not included in the APR calculation.

Customer's obligations to IFN EXTRA FINANCE S.A. highlighted in the balance sheet are settled in the following order: fees, taxes and other liabilities of the Customer in the operation of credit (including the insurance premiums, if applicable); Penalty interest, overdue interest, in order of seniority; outstanding loans in order of seniority; attached to the current loans receivable (current interest maturing); Current loans (at maturity).

If the term of non-reimbursement by the debtor of amounts due under this contract IFN EXTRA FINANCE S.A. will calculate a penalty interest FIXED three percentage points, which adds to the current interest rate applicable to the principal outstanding and from the first calendar day following the due immediately. If the due date of the weekend falling due and unpaid amounts are considered overdue if not paid on the first business day after the due date.

After the Threshold Amount, will be charged a penalty interest calculated based on fixed percentage and that is two percentage points, plus contractual interest rate

Among the collection of loan installments, interest due and interest penalty calculated priority is collecting penalty interest due, then interest rate (main).

Failure to timely payments could have severe consequences for you (eg. Enforcement) and complicate obtaining other loans.

EXTRA FINANCE S.A. informing the customer at least 30 days before the declaration due credit for the assignment of claims resulting from contracts of bad loans to entities performing the debt recovery or initiating enforcement proceedings, as appropriate, informing one with about the rights they have in this situation.

Illustrative example of the impact of currency fluctuation has a 20%

EXAMPLE: For a personal loan guaranteed by mortgages worth € 50,000 taken over a period of 5 years (60 months), payable in 60 equal monthly installments with a fixed interest rate of 48% per year, DAE is 60.22%, the total monthly payment is 2210.09 euros, 225 euros analysis fee, payable once within 48 hours of signing the credit agreement and the mortgage contract and the total amount paid customer is 132,830.75 euros (total amount to be paid by the customer at the time the borrower's national currency is 598,349.40 lei, calculated at an exchange rate of 1 euro = 4.5046).

In this case, the exchange rate at the time of signature is considered 1 Euro = 4.5046, and if the leu depreciated severely against the euro by 20% compared to when signing the credit agreement, which would value the experience rate monthly if they convert to lei (notional value does not affect payment commitments under the repayment schedule annexed to the credit agreement) should be 2652.10 euros.

If the value of the leu would fall by 20% against the euro, the total amount to be paid by the customer at the time the borrower's national currency is 718,016.62 lei. However, the amount could exceed that level if the lion's share value declines by more than 20%. If the value of the leu would fall by 40% against the euro, at the moment of your loan amount would increase to 837,683.84 lei, while the amount for which the monthly rate would feel if they convert to lei ( notional value does not affect payment commitments under the repayment schedule annexed to the credit agreement) should be 3094.11 euros.

You will receive a warning if the leu depreciated severely against the euro by 20% compared to when signing the credit agreement, and the value that would feel the monthly rate if they convert to lei (value hypothetical does not affect payment commitments under the repayment schedule annexed to the credit agreement) should be 2652.10 euros.

Your payments could increase by more than that.

The exchange rate used for converting your euros in lei will be published by the central bank on the due date of the loan.

The customer can benefit from the right to renegotiate terms and other arrangements available to the consumer in order to limit exposure to currency exchange rate risk.

You can repay this loan early, total or partial. There is no compensation for early repayment of part or total. If you want to repay this loan early, please contact us.

Charge: balance + accrued interest up to the date of liquidation + any + any outstanding penalty interest rates

If the early repayment total representatives EXTRA FINANCE S.A. delisting will sign address for deletion prohibitions imposed in CF mortgaged property and to certify that there are no contractual obligations to be fulfilled by the borrower.

Customer consumer has the right to request and receive a free copy of the draft credit agreement and the mortgage contract. This provision shall not apply where, at the time of application, the creditor can not conclude the credit agreement with the consumer in accordance with its internal rules.

The offer of credit can not be regarded as an endorsement of the client's request for providing a product or service IFN Extra Finance S.A. , which is binding upon IFN Extra Finance S.A. only after approval of credit and submitting an offer.

Extra Finance S.A. offer consumers adequate explanations to enable him to assess whether the offer of credit and the credit proposed are adapted to his needs and to his financial situation.

FAILURE OF REIMBURSEMENT OF THE DEBT ON DUE

If the term of non-reimbursement by the debtor of amounts due under this contract, IFN EXTRA FINANCE S.A. is entitled to calculate FIXED PENALTY INTEREST OF 1% PER DAY LATE, from the calendar day immediately following the due. If the due date in a  weekend day, the due and unpaid amounts are considered overdue if not paid on the first business day after the due date. Default interest of 1% per day of delay will be calculated at the rate remaining (main) from the first calendar day following the due date.

If the declaration of credit due earlier, penalty interest fixed 1% applies on balance (principal) for each day of delay, up to and including the day of payment flow from the first day after the declaration of credit due in advance or the date on which had carried reimbursement full and until full recovery of the amount lent. The amount of penalty interest MAY EXCEED THE BALANCE.

Between the collection of loan installments, interest due and interest penalty calculated, the priority is to collect penalty interest due, then interest and rate (main). Levying penal interest will be applied in accordance with art. 38 para. 2 of OUG 50/2010 approved by L288 / 2010:,, The interest penalty is calculated based on fixed percentage and apply to overdue amounts in accordance with the credit agreement, except for amounts from the calculation of interest. "

Warning: Failure to timely payments could have severe consequences for you (eg. Enforcement) and complicate obtaining other loans.

EARLY REPAYMENT

In the case of the total early repayment  EXTRA FINANCE S.A. representatives will sign address for deletion prohibitions imposed in CF mortgaged property and to certify that there are no contractual obligations to be fulfilled by the borrower.

EARLY REPAYMENT FEE TOTAL: 1% of the remaining balance to be paid the entire loan period, except last year, when the fee will be 0.5%, according to GEO 50/2010 and will pay the total anticipated time of payment;

EARLY PARTIAL REFUND FEE: 1% of the amount of credit repaid early if the time between the early repayment and the agreed date of termination of the credit agreement exceeds one year and 0.5% of the amount of credit repaid early if the period between the early repayment and the agreed date of termination of the credit is more than a year, according to GEO 50/2010 and is payable at the time of partial prepayment.

PRIVACY INFORMATION

IFN EXTRA FINANCE S.A. undertakeS to preserve the confidentiality of information relating to the contract signed by the Client, unless the disclosure is required by law or the information is already public.

IFN EXTRA  FINANCE S.A. is entered in the Register of personal data processing with no. 31 954 and processes personal data provided by the Customer through this document, with the purpose of lending (financial and banking services, credit reports, debt collection / recovery receivable, advertising, marketing and advertising, electronic communications services and statistics).

Customer agrees expressly consent to IFN EXTRA FINANCE S.A. to process the information registered in his name in his records (personal information and credit-related conduct).

The customer is expressly agreed that IFN EXTRA FINANCE S.A. to disclose personal information to third parties, including third parties entitled to recover claims and third party assignees of claims from Romania and other countries for processing / transfer by them, only and only to the contract and bring just to comply with all legal and contractual obligations assumed by the Client by signing the contract.

According to Law no. 677/2001, the Customer have the right of information, the right of access, the right of intervention, the right of opposition, the right not to be subjected to an individual decision, the right to request the deletion of their personal data and the right to go to court. To exercise these rights, Customer shall submit a written demand, dated and signed at the headquarters of IFN EXTRA FINANCE S.A., except for the right to go to court, in order to exercise it, the client will address the court in whose jurisdiction resides.

Wanted Sum

Time

Max. 60 months

Monthly installement is:  LEI
EAI Rate este:  %
WHEN YOU NEED A LITTLE HELP
Personal Needs Loan
  • Rapid
  • Flexible
  • Easy to obtain
  • Maximum 500.000 €
REQUIRED DOCUMENTS
  • - Identity Card of the customer and client and mortgage guarantor (if applicable);
  • - Income statement of Customer;
  • - Property title deeds for the land, apartment or house (cadastre, land registration, document showing ownership);