OREANDA-NEWS. May 17, 2012. Within the partner programme with the State Mortgage Institution Kreditprombank has granted loans for purchase of housing in the secondary market in total amount over UAH 12.3 MIL. As a reminder, in the middle of last year the State Mortgage Institution (SMI) in order to facilitate the recovery of the mortgage lending market in Ukraine has renewed active operations on refinancing of loans for purchase of housing in the secondary market. Kreditprombank enters the limited list of the banks – partners of SMI and actually proposes such loans under preferable terms, reported the press-centre of Kreditprombank.

The fixed interest rate on this loan makes 15% per annum, the down payment of customer is from 25% of the housing value. The loan is granted for the term up to 30 years. Its maximum amount is up to UAH 1 MIL (depending on location of housing). There are no monthly fees and hidden additional costs of customers. In addition, the bank does not require additional security: the loan is granted against property purchased.

"Since the beginning of this year the situation in the mortgage market is rather stable. Thus, if in the first quarter there was a slight decrease of real rates, in the second quarter the rates increased and returned to the level of January, 2012. To improve the terms of lending the banks need some long-term inexpensive resource, which few banks have. This resource can be now obtained from the State Mortgage Institution, at the expense of which the banks cooperating with SMI can offer loans on more advantageous terms", - notes Dmytro Kosyriev, Head of the Product Management Division of the bank. – "As of the beginning of May, 2012 the average real rates for purchase of housing in Ukraine amounted to 19.5-22.6% per annum depending on term. Rates on loans by the programme of the State Mortgage Institution are lower by 3-5% at average", - he underlined.