OREANDA-NEWS. August 26, 2011. Sviaz-Bank’s branch in Yekaterinburg boosted the issue of mortgages by 288% in the six months of 2011 from a similar period of last year. According to BankInformService IA, mortgages rose by an average 217% in Sverdlovsk Region. The growth of mortgages in the region compares well with the trend dominant across Russia. This year, the Russian Register has recorded a 210% increase in mortgages for the purchase of housing from last year, reported the press-centre of Sviaz-Bank.

“The rising interest in mortgages is attributed to several factors. The construction market has experienced a significant recovery, interest rates on loans secured by the housing purchased have dropped to near a historical minimum, and people are now thinking more about their housing improvements. The number of customers who have applied to our bank for mortgages on advice of their acquaintances has climbed to 35%,” says Rita Bulatova, Manager of Sviaz-Bank’s Yekaterinburg branch.

Sviaz-Bank offers loans for the purchase of real property in the secondary and primary markets, and of apartments and country houses. The Bank is also involved in the government program to provide housing to servicemen.