OREANDA-NEWS. February 26, 2013. The Koshelev-project housing complex of 33 residential houses in Kaluga has been added to the list of projects under construction with Sviaz-Bank’s approval.

The list of housing projects under construction today, where housing can be purchased from funds loaned by Sviaz-Bank, contains over 110 construction projects in many regions and cities across Russia (Moscow, Moscow Region, St.Petersburg, Blagoveshchensk, Vladivostok, Krasnoyarsk, Lipetsk, Oryol, Saratov, Sochi, Tomsk, Yakutsk, Kemerovo, Nizhniy Novgorod, Tambov, Kaliningrad, Penza, Omsk, Orenburg, Ulyanovsk, Chelyabinsk, Perm, Kursk, Yaroslavl, and Rostov on Don).

Customers who want to buy housing in Koshelev-project and other projects under construction accredited with Sviaz-Bank can take out a mortgage under the Uncollateralized New Housing program. The minimum interest charged under the program starts at 12% per annum at the construction stage and up from 10.5% per annum in rubles after the housing has passed into the borrower’s ownership, a rate practically equal to the rate payable on loans for the purchase of real estate on the secondary market.

The ultimate interest rate depends on several factors, such as the size of down payment, loan term, income confirmation form, credit history, availability of recommended insurance types, commission chargeable for mortgage issue, and project completion stage. The interest rate charged on the loan depends on the fullest compliance of the borrower’s documents with the Bank’s requirements.

The minimum down payment must be at least 20% of the price of the real estate to be purchased. The maximum size of loans is 30 million rubles repayable within three to 30 years.

The program applies to the purchase of housing units – apartments, suites, townhouses, and residential houses with land – in projects under construction on the primary market.

Loans are made for the purchase of real estate units in Moscow and in all 52 regions of presence of Sviaz-Bank’s branches across the Russian Federation.