A North Macedonian mortgage (hipoteka) is a registered security right over immovable property securing a loan obligation, recorded in the Real Estate Cadastre.
A hipoteka (mortgage) in North Macedonian law is a security right (stvarno pravo) over immovable property, created in favour of a creditor — typically a bank — to secure repayment of a loan or other obligation. The mortgage encumbers the property itself, not the person.
Under North Macedonian law, a valid hipoteka must be created by a notarised agreement and registered in the Real Estate Cadastre (Katastar na nepokretnosti). An unregistered mortgage has no effect against third parties. The registration records the capital sum secured, the interest rate, the maturity date, and the rank of the mortgage.
North Macedonian banks offer mortgage products to both residents and non-residents, including foreign nationals. Loan-to-value ratios for residential properties typically range from 60% to 80%. Non-residents and foreign currency earners may face lower LTV limits and additional documentary requirements.
The mortgage follows the property, not the owner. If a mortgaged property is sold, the mortgage remains unless the buyer requires the mortgage to be discharged as a condition of the purchase. Buyers should always check the Katastar for existing mortgages before completing a purchase.
When a mortgage is fully repaid, the creditor and borrower must cooperate to formally cancel (brishenje na hipoteka) the mortgage entry in the Katastar. This requires a notarial deed of cancellation and a registration entry. Failure to remove a paid-off mortgage can create complications for future sales or refinancing.
Yes, several Macedonian banks offer mortgages to foreign nationals, though the terms, required documents, and LTV ratios may differ from those for residents. You will typically need proof of income, a valid passport, and a favourable credit assessment.
The mortgage remains registered unless discharged. The standard practice is for the seller to repay the mortgage from the sale proceeds at the closing of the transaction, with simultaneous discharge registered in the Katastar.
Mortgage terms typically range from 10 to 30 years depending on the lender and the borrower's age and income profile. There is no statutory maximum term.
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