Nordea Bank reduced the rates and cut the down mortgage payment

22.10.2009

Nordea Bank reduced the rates and cut the down mortgage payment

OJSC Nordea Bank has reduced the mortgage rates for loans in roubles by 1.5 b.p. and by 1 b.p. for those in foreign currency. Currently the Bank’s rates range from 13.6% up to 18% per annum in roubles and from 7% to 13% in USD or EUR, depending on loan product type and form of income confirmation. For last four months the mortgage rates has been reduced by the Bank for the third time.

There are also changes in minimum down payment. For a number of reasons it has been cut by 10 b.p. – up to 20% of the total cost in case of purchase of an apartment and to 30% for purchase of a house with a land plot. Under the shared construction loan program implemented by the Bank jointly with YIT, a Finnish concern, the minimum down payment has been reduced from 30% up to 25% of the cost of apartment to be purchased.

Besides, the Bank has limited the upfront fee for opening a loan account in case of rouble mortgage. Now it accounts for 1% of the loan amount, but should not exceed 30 thousand roubles under the program “Classic”, “Targeted Mortgage Loan” and 1% under the program “No-purpose Mortgage Loan” (not exceeding 90 thousand roubles).

Nordea Bank offers mortgage loans of the following types: Classic, Targeted loan, No-purpose Loan, Mortgage Loan for shared construction.

More detailed information on the terms and conditions of loan programs can be obtained in Mortgage Loan Center (Phones: (495) 662-11-55, 777-34-77 or on the Bank’ website.

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