OREANDA-NEWS. September 09, 2008. ZAO Raiffeisenbank is offering its clients new opportunities to obtain a mortgage: from 1st September 2008 the bank will take into account the income of the client together with the income of joint borrowers, reported the press-centre of Raiffeisenbank.

To increase the size of the loan the client can bring in a third party as a joint borrower; a common-law spouse, in order to obtain a loan for a flat in a new housing development, and for flats and cottages on the secondary property market.

Besides this, the borrower can bring in their parents or the parents of their spouse as a joint borrower. According to the terms of the program 'loans for the young generation', the largest loan that can be taken is USD 300,000 or 7,800,000 Rubles in Moscow, the regions around Moscow, Saint-Petersburg and the Leningrad region, and USD 150,000 or 3,900,000 Rubles in all other regions.

The maximum age of the borrower and the spouse cannot exceed 35 from the moment the application is made to the bank. The program is applicable for loans on flats on the primary and secondary markets and cottages on the secondary market. The property can be registered as being owned by the main borrowers, or in part between the main borrowers and the joint borrowers. The total number of borrowers cannot exceed four persons.

Offering his comments on the launch of this new development in mortgage lending, Roman Vorobiev, a Member of the Board of ZAO Raiffeisenbank and Head of Consumer Banking Directorate noted that "It is a priority for us to bring to our clients attractive terms upon which they can obtain a loan, and now we are glad to offer them the chance to obtain a large loan by bringing in joint borrowers; common-law spouses or parents. It is gratifying for us to help young families purchase housing".