OREANDA-NEWS. August 07, 2012. Sviaz-Bank has modified the terms it applies to some categories of mortgagers under its mortgage programs, in particular, the minimum length of service with the current employer for employees of partner companies and public service organizations is now four months instead of the previous six, which means that a mortgage can be taken out at Sviaz-Bank two months earlier, reported the press-centre of Sviaz-Bank.

A customer may opt for any of the mortgage programs covering apartments, suites, townhouses, new housing developments, and land at a low interest rate.

Requirements for a minimum length of service apply to all programs, except for the Military Mortgage program. Mortgage programs for ready housing on the secondary market and in new housing developments are offered at an interest rate up from 10% for a term of three to thirty years. A secondary market mortgage may sell for up to 60 million rubles, and a primary market mortgage ranges from 400,000 to 30 million rubles. No official income confirmation is required for taking out a mortgage. The Bank runs a specialized program, Military Mortgage, for servicemen.