Sviaz-Bank Begins Issuing Mortgages to Servicemen to Buy Apartments
OREANDA-NEWS. April 05, 2013. Sviaz-Bank has started issuing mortgages to servicemen under its Military Mortgage program for the purchase of housing property in the Nekrasovka Park complex in Lyubertsy, southeast of Moscow.
Servicemen and their families will certainly appreciate the new houses a short distance from Kozhukhovo district, next to the Krasnaya Gorka housing complex and Black Lake, one of the cleanest lakes in Moscow and Moscow Region. The residents will be able to go on outings or have picnics in these picturesque areas.
Loans are issued at a starting rate of 11.3% in Russian rubles while construction goes on and 10.5% upon completion of construction. A loan can be made for a maximum period of 20 years. To put Military Mortgage within closer reach of this customer group, Sviaz-Bank does not charge any commission or extra loan-related payments, including commission for credit issue.
According to Alexei Bakhayev, Director of Sviaz-Bank’s Retail Banking Products Department, demand for new housing in Moscow’s suburbs keeps climbing because of high housing prices in the nation’s capital and growing numbers of options offered by developers. “Sviaz-Bank is expanding its list of partners in making loans for housing purchases in the primary market, and our customers can now afford to buy new housing at moderate prices in virtually any suburban district,” said Alexei Bakhayev.