OREANDA-NEWS.  February 08, 2012. VTB24 and the Bank of Moscow have commenced the implementation of a joint project in the mortgage lending market. Now clients will be able to enjoy the advantages provided by the both banks’ mortgage programmes.

In the mortgage lending centre Nikitsky of VTB24 an opportunity is given to have a consultation and make an application for a "Loan for housing against land mortgage", granted by the Bank of Moscow. The offer is valid for land owners who plan to build a house and wish to be granted a loan in tranches as the funds become needed. A loan is extended for the term of 3 to 30 years with the interest rates being 10.05% annually in a foreign currency and from 12.75% annually in RUR and the minimum amount of loan being 490 thousand RUR (or the equivalent thereof in the currency of the loan).

The mortgage centre Karetny Ryad of the Bank of Moscow provide an opportunity to have a consultation and apply for all the mortgage programmes of VTB24 for the term of up to 50 years, the interest rates being from 8.5% annually in RUR and from 7.95% annually in a foreign currency.

Today the project has been implemented for clients in the Moscow Region and is planned to be expanded to other regions.

"Our joint work with the Bank of Moscow opens up new opportunities for our clients," says Anatoly Pechatnikov, Deputy President/Chairman of the Board, Director of the Mortgage Loan Department of VTB24. "They will be able to use mortgage-related offers of both banks in the situation convenient and comfortable for them".

"The implementation of the project will allow the clients of the Bank of Moscow to use the mortgage programmes offered by VTB24, the leader in the mortgage market and expand the mortgage programmes offered by both banks to their clients", comments Vladimir Verkhoshinsky, Vice-President, Head of the Retail Banking of the Bank of Moscow.