OREANDA-NEWS. In the framework of a joint cooperation programme with the State Mortgate Institution, Finance and Credit Bank brings down the lending rates on housing loans issued under this programme. Such lowering of the rates became possible due to the SMI's decision to decrease its refinancing rate at which the SMI buys mortgages from banks.

According to Natalia Kravets, Head of Product Development Division of Finance and Credit Bank, "The decrease of the interest rate on the SMI's loans by average of 3% per annum is seen as a positive indicator in the area of mortgage lending to the public. This will have a positive effect on affordability of mortgages for the Bank's customers and will make purchasing own housing cheaper and more practical for them. Our Bank hopes for the trend of mortgage lending rates of the SMI to continue, as far as there are no worthy alternatives to such loan due to the high cost of funds in Ukrainian banks, for the time being.

From now on, a customer has a possibility to take out a loan to purchase a flat or a house, with the loan period stretching from 5 to 30 years and the lending rate fixed at 18.29% per annum in UAH. The maximum amount to lend is up to UAH 1 million, the down payment is from 25%. The customer can opt for either classical or annuity scheme of loan repayment.

Finance and Credit Bank is one of the most active partners in the framework of the loan programme with SMI and has been successfully cooperating with the institution since August 2006. Following the 2012 results, the Bank ranks second in the SMI's rating of partner banks.