The government’s decision to earmark 20 billion roubles as mortgage interest rate subsidy, adopted in early February following a reduction of its rate by the Central Bank, has become a significant event in the market for new housing. In actual fact, cuts in mortgage lending rates were not expected earlier than March 2015. Otkrytiey Bank has decided to make mortgage loans at a reduced interest rate before the government subsidy programme is launched.
Since March 7, Otkreytiye has been accepting requests for rouble loans at 12.55 per cent per annum with an initial down payment of more than 50 per cent and a loan period of five years. With a down payment of 30 per cent and a loan period of up to 20 years, the interest rate is 12.95 per cet. Loans are provided for a term of 5 to 20 years. For customers in Moscow and the Moscow the loan amount may reach 8 million roubles.
Loans with a reduced mortgage rate may be used to buy flats in the housing projects given below:
Yuzhnaya Dolina architectural suburb
Novo-Molokovo housing co-op
Yuzhnoye Vidnoye housing co-op
For more information, please contact RDI specialists by phone at +7 (495) 585-2222.
Otkrytiye Begins Mortgage Lending at Reduced Rate of 12.55 per cent