AFFORDABLE SREDA: FLATS AVAILABLE AT DISCOUNTED MORTGAGE RATES

17/03/2017

A number of banks have announced a reduced base mortgage rate for properties in the SREDA residential quarter. The lowest rate is 10.4% for the entire mortgage term.

Buyers of flats in the SREDA residential quarter can currently choose from among mortgage lending programs accredited with 14 Russian banks. Five of these banks, including the nation's leading financial institutions, have announced a reduction in their base rates.

Sberbank has lowered its base mortgage rate as part of its New Construction Housing program down to 10.9%. Promsvyazbank has reduced interest rates as part of its New Construction program from 12.5% to 10.9%. The downpayment is now 15% instead of 20% previously. A similar offer is available from Vozrozhdenie Bank as part of the New Construction Mortgage program: a 10.9% interest rate with a downpayment of 15%.

VTB Bank offers the lowest interest rate at 10.4%. The offer is available to buyers of flats starting at 65 sqm. VTB Bank offers a rate of 10.9% for buyers of smaller flats.

Absolutebank has also lowered the mortgage rate from 12% to 10.9%. Metallinvestbank has announced a reduction of the mortgage rate as part of the Mortgage Without Downpayment program from 14% to 13% and has also lowered its rate as part of the New Construction Mortgage program from 12% to 11.5%.

Ekaterina Tain, Vice President of Retail Sales, PSN Group:

“Many real estate experts predicted that the number of mortgage deals in Moscow would plummet once government subsidies have been canceled. Yet today we can see many banks lowering their mortgage loan rates across the board. If this trend continues, this will have a favorable effect on the real estate market as a whole.”

PR Department

PSN Group

+7 (495) 363 2023

pr@psngroup.ru