OREANDA-NEWS. February 20, 2014. Sviaz-Bank has lowered the minimum age for borrowers in mortgage agreements to 21 years on application date. The age threshold has been lowered under programs for real property purchases on the primary and secondary markets.

This measure also applies to the line of Big Securitized Loans program, under which the borrowers’ minimum age has been reduced to 21 years on application date as well, and the maximum loan repayment age has been raised to 65 years.

Previously, loans in this category could be taken out by Russian nationals starting at age 23, and from now on young active Russian citizens earning stable incomes can easily apply for mortgages. A mortgage loan can be paid off until the borrower turns 65 years.

“We have changed the age threshold under the New Home and Ready Home programs, and also the age threshold and ceiling under big securitized loans. This means that loan terms have been standardized, and that borrowers who could not apply for a loan from the Bank before they met our age requirements will now come into a new eligible customer category,” said Alexei Bakhayev, Director, Sviaz-Bank’s Retail Business Development Department.

Requirements have also been eased in the line of Big Securitized Loans for minimum total employment record that has been halved from two years to one year.