Nordea Bank launches dacha mortgage sales

Nordea Bank launches dacha mortgage sales

This program’s key advantage is that the property bought with a loan will be used as collateral thereunder. The interest rates shall range from 9.95% to 13% per annum in RUB and from 6.5% to 10.5% per annum in USD or EUR. Besides, the interest rate does not depend on maturity, down payment and income proof form. Under this program it is also possible to buy apartments and houses with land.

”I am convinced that in the peak of summer our new service (lending against a purchased dacha, rather than any other property) will be highly popular with customers and will enable us to further strengthen our position among the mortgage market key players”, – remarks Andrey Maltsev, Deputy Chairman of Nordea Bank’s Management Board.

Nordea Bank offers ”Classic”, ”Special-Purpose” and ”Any-Purpose” mortgage loans. The Bank is also implementing a co-brand project with YIT and NCC Real Estate – ”Mortgage Loans for Mutual Construction”. The important advantages of our mortgage loan programs are as follows: down payment – min 10%, maturity – 30 years, no prepayment penalty, differentiated (declining) or annuity (fixed) repayment options, lending against commercial realty and land plots, no origination fee, a covered irrevocable letter of credit may be used for effecting settlments under the mortgage deal and many other advantages.

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