MBRD and Agency for Housing Mortgage Lending Cooperation

AHML together with MBRD originated a new mortgage loan for previous mortgage loan repayment with a year grace period and revised repayment schedule. Now the payments are half less from original amount during grace period and will be a little bit higher in comparison with the payments on previous mortgage loan after the grace period expiration.

Andrey Shelkovy, Senior Vice-President MBRD, announced, “We believe this precedent to be a very good example for other market players. Nowadays, a lot of borrowers have faced the same challenge. If our joint actions can help them then there is a chance to stabilize situation and reach the new level of relations with clients and partners based on trust”.

Some information:
According to AHML standards, approved by the Government of the Russian Federation at the end of 2008, a borrower must prove that his/her income has dropped below a minimum subsistence, he/she has no savings, property or assets and purchased, by means of mortgage loan, flat is the only housing.

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