Nordea Bank has set new rates and canceled mortgage loan origination fee


Nordea Bank has set new rates and canceled mortgage loan origination fee

OJSC Nordea Bank has set new interest rates from 6.5% in EUR or USD and from 9% in RUB, as well as canceled the mortgage loan origination fee.

The Bank’s current rate under mortgage loans, requiring mandatory personal and title insurance, range from 9% to 14.5% per annum in RUB and from 6.5% to 12% per annum in USD or EUR, depending on the type of a mortgage loan program, a fixed rate period and an income documentation form.

Besides, the Bank has canceled the loan origination fee under agreements concluded since November 15, 2010. So, customers of the Bank are no longer charged any fees when applying for a mortgage loan.

Deputy Chairman of the Bank’s Management Board Andrey Maltsev remarks: “The interest rate reduction and loan fee cancellation will make our mortgage programs more attractive for a broad range of customers”.

Nordea Bank offers the following housing loans: “Classic”. “Special Purpose” and “Any Purpose”, as well as “Shared Equity Construction Mortgage Loan” program, being implemented by the Bank jointly with its partner real estate development companies. Among other important advantages of the Bank’s mortgage loan programs is a 30-year maturity, a 15% down payment, no prepayment penalty, differentiated (diminishing) or annuity (equal installment) repayment option, as well as the option of using a commercial real estate property and land plots as collateral, and using various types of income for an eligible loan amount calculation etc.

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