OREANDA-NEWS. July 06, 2012. Sviaz-Bank has accredited new construction projects in Moscow Region as being eligible for loans to be made under its Novostroyka (New Construction) mortgage program without collateral required as security against the borrowers’ real property, reported the press-centre of Sviaz-Bank.

Residential houses added to the List of Accredited Projects are in the Peredelkino Blizhneye City Park (developer Oleta LLC), Novoye Izmaylovo (developer Balashikha City LLC) and Novyye Vatutinki (developer Investtrust LLC) communities.

The accredited residential houses are up to modern comfortable housing standards.

The Peredelkino Blizhneye City Park lies eight kilometers from Moscow’s southwestern sector. The project’s convenient location between the Minsk and Borovsk highways gives it a significant advantage. The Russian capital’s Western District into which the City Park is integrated has transportation services rated among the best in Moscow.

The Novoye Izmailovo project is just a kilometer away from the Moscow Ring Road. It stands on an area of 35 hectares, large enough for the developer to put through its city-within-city concept. The residents of the new community will avail themselves of both their community’s infrastructure and that of Moscow a short walk away.

The Novyye Vatutinki project is located 14 kilometers from the Moscow Ring Road, by the roadside of the Kaluga Highway, one of the five most convenient roads in suburban Moscow. In the longer run, Novyye Vatutinki will be linked to the capital and other suburban communities by a speed tram network.

The Bank’s successful cooperation with the construction companies helps a growing number of Russian citizens to purchase apartments with consideration for their incomes and needs. Most of the housing is selling on the Bank’s mortgages at affordable prices in the economy class.

To buy residential property under construction within the framework of Sviaz-Bank’s program, customers can take out mortgages for terms of three to 30 years at an interest rate of 11.5% to 13% while construction is going on and 10% to 12% after construction is finished. Mortgages are issued for up to a maximum 30 million rubles. The down payment must be equal to at least 20% of the property to be purchased. No moratorium exists on early repayment of loans.