14.03.2007 /Home mortgage
 Mortgage became even more available
SLAVINVESTBANK introduced new conditions of mortgage lending On January 25, 2007 SLAVINVESTBANK introduced new conditions of mortgage lending. The changes were about the increase of the term of lending from 20 to 25 years, and the lowering of the rouble loan rate by 0.5 points (% p.a.) on average. The final rate level depends on the term of lending and the form of income confirmation of the borrower. For example, according to the “Professional” tariff, the rouble loan rate for the purchase of ready residential space with an initial installment of 15% has been lowered to 12.5%. With a choice of this offer, the borrower has to documentarily prove his/her income. According to the “Free” tariff, the loan rate for the purchase of ready residential space with an initial installment of 30% has been lowered from 17% to 15%. This tariff is intended for borrowers who do not provide certificates about their income or from guarantors. The changes also touched the tariffs on providing mortgage lending for the purchase of new residential space in buildings under construction: “New apartment” and “New apartment-2”.Thus, the rouble loan rate under the “New apartment-2” tariff has been lowered to 12.5%. This tariff gives an opportunity to acquire residential space without an initial installment on condition of being secured by existing real estate. Either one or several persons can act as Borrowers under this tariff, including those who are not related to each other. This tariff suits young families who have no savings of their own or considerable income. Currently, SLAVINVESTBANK offers 6 mortgage lending programs that cover primary and secondary real estate markets, work on remodeling, and lending for the purchase of out-of-town cottages.
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