OREANDA-NEWS. July 02, 2010. Effective from June 2010, as part of the agreement on buying apartments sold in residential complexes of MIEL-Novostroyki, it has become possible for people to use a mortgage loan with Nordea Bank against the collateral of an owned realty. The interest rates under this program are: from 7% per annum in a foreign currency and from 9.5% per annum in rubles, reported the press-centre of Nordea Bank.

The realty as collateral may be in form of an owned, including by a third party, apartment, residential (garden) house, land plot, commercial premises located in Moscow region or in any other region where the Bank is present. The maximal loan amount is at most 85% of the mortgaged apartment’s market value; at most 70% of the residential (garden) house’s market value with a land plot or that of commercial premises; at most 50% of the mortgaged land plot’s market value.

The maximal maturity of a loan is 30 years. A borrower’s income is documented in 2 NDFL (Personal Income Tax) form or in form required by the Bank. This program is set apart from others thanks to affording a customer the opportunity of choosing between differential (amortizing) and annuity (in equal installments) types of repayment under a loan, no restriction as to the number of owners mortgaging a property to the Bank (except for under-age children) and the number of those registered there, as well as free loan application consideration.

This mortgage program applies to buyers of apartments in such residential complexes sold by MIEL-Novostroyki as: the largest residential business-class block in Moscow – Sky Fort, Yaroslavsky micro-district in Mytishchi town, Kransnaya Gorka micro-district in Lyubertsy town.

Deputy Chairman of the OJSC Nordea Bank’s Management Board, Andrei Maltsev says that: "Cooperation between the Bank and MIEL-Novostroyki makes mortgage products more attractive for customers thanks to, among others, no down payment requirement if the value of a mortgaged property is sufficient".

"Since the beginning of this year there has been a growth in the number of mortgage loan applications from customers. Our joint program with Nordea Bank will attract a whole lot of new customers, offering them the lowest interest rates available on the mortgage loan market", assures Maria Litinetskaya, General Director of MIEL-Novostroyki.