OREANDA-NEWS.May 05, 2012. NOMOS-BANK is launching two mortgage programmes for young families: ‘Apartment + Maternity capital’ and ‘New build + Maternity capital’, reported the press-centre of NOMOS-BANK.

The programmes allow Bank customers to obtain mortgage loans for up to 90% of the cost of a real estate purchase.

The programmes includes special conditions for customers who have an entitlement to maternity capital (one-off government payouts to families at the time when they have children). The Bank counts maternity capital as a part of the down payment, so borrowers repay a part of their loan using their maternity capital within six months after receipt of the loan. The rate of interest on the loan is then reduced by 1%.

Loans can be used to purchase property on the primary housing market (new build) and the secondary market. Interest rates are from 12% per annum. In Moscow, Moscow Region, St. Petersburg and Leningrad Region loan amounts are from RUB 500,000 to RUB 30,000,000, and in other regions they are between RUB 500,000 and RUB 15,000,000.

Customers do not need to have an entitlement to maternity capital in order to qualify for a mortgage loan.

The Director of the Mortgage Credit Department at NOMOS-BANK, Sergei Arzyantsev said: “We have expanded our mortgage loan range with an attractive new product, which is in demand among young families who have not yet been able to save enough money for a down payment, but who already want to buy a property. Thanks to maternity capital and the assistance of NOMOS-BANK, such customers can now resolve their urgent housing issues.”

NOMOS-BANK mortgage programmes now cover most segments of today’s housing market in Russia. The Bank offers loans for purchase of apartments on the primary and secondary markets and also for purchase of houses with their own land plots, as well as special-purpose loans on the security of real estate, loans for a down payment, and help to finance rebuilding work.

NOMOS-BANK mortgage loan applications can be processed without guarantors and with a minimal set of documents. The customer can confirm his income by completing a form issued by the Bank, and the mortgage application is processed in three days. An important advantage of the NOMOS-BANK mortgage loan service is availability of a personal manager who oversees the mortgage transaction and ensures that the purchase process is as smooth as possible.