Name of programme:
PROGRAMME OF MORTGAGE LOAN HOUSING
- Law no. 152/1998 establishing the National Housing Agency, as subsequently amended and supplemented (Government Emergency Ordinance no. 66/2001, Government Emergency Ordinance no. 59/2002, Government Emergency Ordinance no. 185/2002, Government Emergency Ordinance no. 83/2003, Government Emergency Ordinance no. 105/2005, Government Ordinance no. 50/2006, Law no. 10/2006)
- Law no. 190/1999 on the mortgage loan for real estate investment, as amended by Law no. 34/2006
National Housing Agency
Presentation of programme:
This programme was intended to develop new projects according to the new legal provisions, without favouring the National Housing Agency any longer by the provision of financing sources from the state budget for subsidies, thus permitting the setting-up of any type of partnership for the development of new residential complexes.
Mortgage loan is granted by the financial institutions agreed by the National Housing Agency. Mortgage loan is guaranteed by mortgages on the land and the buildings erected on it further to the establishment of mortgage within the limit of an established amount and gradually, while the loan is used.
The real estate properties mortgaged can be alienated before the loan is fully repaid, provided that the mortgage creditor gives its consent.
The amount of the loan for the building of housing units shall be provided to the loan beneficiary on a staggered basis, and the payment shall be made directly to the constructor.
The borrower has the obligation to conclude an insurance contract for the mortgaged assets, valid for the entire duration of the mortgage loan.
The amount of the granted loan depends on the beneficiary`s repayment capacities. The granting of mortgage loans for the building of housing units depends on the beneficiary`s possibility to cover in advance, from its own sources, the difference between the total cost of the housing unit and the amount of the loan that can be granted.
The National Housing Agency establishes a land portfolio with a view to building housing units, by requesting and taking over plots of land, in accordance with law, from the public patrimony of the state or of the administrative territorial units.
Concurrently with the checking of the financial trustworthiness of the applicants who made an option for the building of personal property housing units by the National Housing Agency (ANL), the agency organizes and performs the procurement of the design and execution of works and obtains the building authorization.
After contracts are awarded further to the design and work execution procurement tenders, upon the conclusion of the contract between ANL and the general contractor, the loan beneficiaries for the building of housing units by ANL are requested to be present for the conclusion and signature of:
- a contract of mandate whereby ANL is authorized to represent them during the performance of the housing unit building contract
- housing units building contract
- loan contract
The building of housing units, their acceptance and delivery to beneficiaries is followed up and carried out by ANL, together with the beneficiaries of housing units, in accordance with the clauses and authorizations provided in the contract of mandate.
Beneficiaries of mortgage loans
- Building personal property housing units financed from mortgage loans
- Setting-up a fund of private property housing units
- Carrying on the execution works for the investment objectives initiated during previous years
- Promoting new investments and starting the execution works for them
Beneficiaries` own sources and mortgage loans granted by banks agreed by the National Housing Agency.
Name: ZAMFIROIU FLORIN, Expert