Nordea Bank and Vedis Group have teamed up for implementation of a mortgage program

21.10.2009

Nordea Bank and Vedis Group have teamed up for implementation of a mortgage program

OJSC Nordea Bank and Vedis Group have signed an agreement envisioning that each buyer of an apartment built by the Group may apply to the Bank for a mortgage loan against his/her existing realty.

The collateral under this program may be in form of a real estate property owned by the borrower or a third party, such as an apartment, residential (country) house, land plot, non-residential premises located in the Moscow region or in any other 15 regions of the Bank’s presence.

The interest rates hereunder range from 7% to 11% per annum in foreign currency and from 13.5% to 17% per annum in rubles. The maximal loan amount is 80% of a mortgaged apartment’s market value and 70% of that of a residential (country) house or non-residential premises. The maturity of a loan may be as long as 30 years.

«We are positive that thanks to the launch of this program, purchasing a new apartment will become affordable for most of the buyers, - according to Sergey Bobkov, the President of Vedis Group. – We will continue working in this area, developing various financial schemes which could simplify the procedure and enhance affordability of buying accommodation for our customers».

Among the program’s advantages is one of the market’s lowest interest rates, long maturity, repayment options in differentiated or annuity (equal) installments, no limitation on the number of owners of an apartment being mortgaged (except for under-age children) and the number of people registered in it, as well as free consideration of a loan application. The income of a borrower considered when calculating the loan amount, may be both documented by an official tax statement and evidenced by any other way.

«Cooperation with Vedis Group will make our products more attractive for customers. In particular, the interest rates offered by us are lower than those provided under other programs on the primary market. Besides, upon receipt of the ownership title to the new apartment, it is possible to replace the collateral by refinancing the original loan», according to Aleksey Musatov, Director of the Mortgage Center of Nordea Bank.

Further on this program you can learn by dialing the Mortgage Center: (495) 662-11-55, 777-34-77 or visiting our site.

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