OREANDA-NEWS. September 29, 2011. Investtradebank is announcing alteration in a number of its mortgage programs conditions, reported the press-centre of Investtradebank.

In particular, under the tariff "Premialny" (Bonus) (a loan on security of available real estate) the crediting period has been increased from 5 to 10 years. Thanks to this change the Bank’s clients can now count on obtaining of a larger loan amount as well as on reduction in the size of a monthly payment, remaining at the same income level. Besides that, the minimum rate on this product has been lowered from 16 to 14,5 % per annum.

Under the tariff "Nadezhny" (Reliable) (lending for acquisition of housing on the secondary market) the list of objects, considered as a subject of collaterals, has been extended. It became possible not just to get a mortgage loan for purchase of flats in multicompartment buildings, but also for dwelling houses with land plots.

The Bank is also ready to accept flats with alterations (redevelopments) as collaterals.

A crucial point is that now, concluding a purchase and sale transaction with use of the Bank’s loan funds, Investtradebank provides the contract parties with an opportunity of  independent appraisal of the housing value, mentioned in the purchase and sale contract, let it even be lower than the extended loan amount. In this case the targeted use of the loan, stated in the credit contract will be specified as “acquisition, repair and accomplishment” of the subject of collaterals.

The more detailed information on lending conditions in the framework of the Bank’s mortgage programs you can kindly find on the corporate website of the Bank at http://www.itb.ru/private_customers/loans/mortgage_lending/