The Yekaterinburg Branch of Nordea Bank advanced its 500th mortgage loan


The Yekaterinburg Branch of Nordea Bank advanced its 500th mortgage loan

The Yekaterinburg Branch of OJSC Nordea Bank advanced its 500th mortgage loan. To mark the event the Bank gave gifts to all family members of the borrower.

OJSC Nordea Bank opened its branch in the downtown Yekaterinburg less than two years ago. Since then the branch was very active in advancing mortgage loans to individuals. As a result the number of the Bank’s local customers is growing.

OJSC Nordea Bank offers the following mortgage loans: «Classic», «Tied», «Untied» as well as «Home construction co-financing loan». The latter may be used only for a purchase of an apartment or a house erected either by YIT or by NCC Nedvizhimost. Interest rates under Rouble denominated mortgage loans of the Bank may be as low as 11% p.a., while under the mortgage loans denominated in Euros or US Dollars just 6.5% p.a.

Other attractive terms of mortgage programs offered by OJSC Nordea Bank to its customers are as follows: the minimum level set for a down payment is just 10% of the purchase price; the maximum term of a mortgage loan may be as long as 30 years; no commission is charged for prepayment of the loan; the right of the borrower to choose the type of the loan repayment plan: either in differentiated payments (i.e. in stepped down installments) or annuity payments (i.e. in equal periodic installments); the right of the borrower to secure her/his obligations under the mortgage loan by a pledge of commercial real estate or a pledge of land plots; no drawdown fee is charged by the Bank under its mortgage loans; a borrower has the right to use covered irrevocable letters of credit for the repayment of a mortgage loan, etc.

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