Nordea Bank starts refinancing mortgage loans


Nordea Bank starts refinancing mortgage loans

Effective from 3 September 2012, the Bank offers a new mortgage program «Mortgage loan – refinancing»

As part of this program the Bank provides you an opportunity to refinance another bank’s mortgage loan at more favorable conditions. Now you can have another currency, better loan maturity, lower interest, less monthly payment and thus more comfortable debt. You can also apply for more money if you want to purchase or build a house or an apartment, as well as to overhaul your real estate. Besides, no existing property collateral is required pending repayment to the original bank.

The minimal interest rate hereunder is 6.5% in foreign currencies and 9.95% in rubles. A 2% higher rate applies until the mortgage is re-registered in favor of the Bank.

«Mortgage loan is a long-term product during the use of which the borrower’s financial situation and market conditions usually change. Therefore, we are happy to offer our new product to those who have a mortgage loan in another bank and wish better loan parameters», says Andrey Maltsev, Deputy Chairman of OJSC Nordea Bank’s Management Board.

Nordea Bank also offers mortgage loans of the following types: Classic, Special-Purpose, Any-Purpose Loan, Mortgage Loan for shared construction implemented by the Bank jointly with YIT, a Finnish concern and NCC Real estate. The important advantages of Nordea mortgage lending programs are 3 documents based loan pre-approval, the minimum down payment of 10%, a 30-year loan maturity, no penalties for early repayment, possibility to choose between differentiated and equal installment repayment options, acceptance of commercial real estate and land plots as collateral, no origination fee, possibility to use irrevocable letters of credit for settlement under mortgage deals and many other advantages.

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