MOZAIK Development Group and Nordea Bank have started cooperation in the field of housing loan programs

30.04.2010

MOZAIK Development Group and Nordea Bank have started cooperation in the field of housing loan programs

The Bank and the Group have reached an agreement stipulating possibility for people to buy a real estate property in the gated communities built by the Group – «High Coast» and «Smartville Dmitrovka», with the use of a housing loan with the Bank against an existing real property as collateral.

The collateral under this mortgage program may be in form of an owned, including by third parties, apartment, residential (summer) house, land plot, nonresidential premises located in the Moscow region or any other region of the Bank’s presence. The maximal amount of a loan — at most 80% of the market value of an apartment securing the loan and at most 70% of the market value of a residential (summer) house or nonresidential premises. Maximal maturity is 30 years.

Other advantages, besides the long maturity, setting this program apart from others is low interest rates – from 7% per annum in currency and from 12% per annum in rubles, possibility for a borrower to chose between the differentiated or annuity repayment, no limit on the number of owners for an apartment securing the loan (except under-age children), nor the number of persons registered there, as well as free loan application consideration. The income of a borrower may be documented by both tax statements and in other forms.

«We are confident that thanks to the cooperation between our companies and the broad range of mortgage products offered by the Bank, acquisition of a countryside realty will become affordable for a greater number of people», - remarks Aleksey Musatov, Deputy Director of the Bank’s Retail Business Department on Housing Loans.

«We hope that buying a house in one of our gated communities will become a dream coming true for many families», - comments Andrei Knyazev, General Director of MOZAIK Development.

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