OREANDA-NEWS. July 09, 2010. In June 2010 OJSC Nordea Bank and "NCC Real Estate" Ltd Co, a Saint-Petersburg-based company of the Swedish NCC Group, have entered into a cooperation agreement and developed a mortgage scheme for customers buying flats in the "Swedish Krona" – a housing estate under construction in Primorsky district of Saint-Petersburg, reported the press-centre of Nordea Bank.

During the construction phase the buyers will be entitled to a rouble loan with 11% APR and a downpayment of 25%. After the title to the newly-built property has been received, the interest rate will be decreased to 9.5% APR.

Under this scheme it is not required to mortgage a property you already own before you register title to the flat you are buying. Instead you pledge property rights to your new flat. As soon as the title to the property is registered, the flat is mortgaged to the bank.

The term of the mortgage is up to 30 years. Your income should be confirmed with 2-NDFL or other form acceptable to the bank. The borrowers have such repayment options as fixed or diminishing installments. Loan applications are reviewed free of charge.

- Launch of cooperation with NCC Group in Russia is a significant event for Nordea Bank not only as an excellent business opportunity for implementing a retail mortgage scheme for buying a flat in the " Swedish Krona", but also as extension of long-term relations between Nordea and NCC in the Nordic countries, - says Andrey Maltsev, Deputy Head of the Bank’s Management Board.

- NCC is a construction and development company with the strong social responsibility for all the markets it operates in. In the "Swedish Krona" project we are focused on creating a comfortable living environment. We pay special attention to our relations with the customers trying to create a stress-free atmosphere from the moment of flat selection to actually living in the flat. So I’m absolutely sure that we, together with Nordea Bank, will be able to offer our customers the best credit terms and the highest quality of service, - notes Juuso Hietanen, General Director of "NCC Real Estate" Ltd Co.