Altum program for families and young professionals.
What is the Altum program?
The Altum program is an additional guarantee for a bank loan, house purchase or construction for families with children and young professionals who have independent income but do not have enough savings to make the down payment.
Who is guaranteed?
- The guarantee is granted to families with children (up to 23 years inclusive)
- For young specialists (A person who has obtained secondary professional or higher education and does not exceed the age of 35.)
What are the warranty amounts?
For families:
- If there is one child in the family, the amount of the guarantee is 10% of the principal sum of the loan and no more than EUR 10,000.
- If there are two children in the family, the amount of the guarantee is 15% of the principal amount of the loan and no more than EUR 15,000.
- If there are three children in the family, the amount of the guarantee is 20% of the principal amount of the loan and no more than 20,000 EUR.
For young professionals:
- The amount of the guarantee is up to 20% of the principal amount of the loan and no more than EUR 50,000.
How to get a warranty?
An application for a mortgage loan is submitted to one of the banks with which ALTUM has a cooperation agreement
- Swedbank
- SEB Bank
- Luminor
- Ciadele Bank
- BlueOrange
- PrivatBank
The bank evaluates the application and decides on the attraction of the ALTUM guarantee. The bank prepares and submits a guarantee application to ALTUM, and accordingly ALTUM evaluates the guarantee application and makes a decision on issuing a guarantee or refusing to provide a guarantee. If a decision has been made to issue a guarantee, ALTUM issues an invoice to the bank for processing the guarantee application. The bank pays the invoice to ALTUM for processing the application. After the invoice is paid, ALTUM and the bank conclude a guarantee agreement for the loan granted to the borrower and the borrower is granted a bank loan.
Discount for the land registry fee?
- Families with children receive a discount from 2% to 0.5%
- No discount is given to new specialists
To learn more about the ALTUM program, contact us , We will recommend the best specialists!
