OREANDA-NEWS.  September 06, 2012. Nordea Bank has reduced the list of documents required for financial solvency assessment and mortgage loan issuance, reported the press-centre of Nordea Bank.

Now to get a preliminary decision for mortgage loans a borrower can only present to the Bank a passport, a copy of employment records and a statement of income (Personal income tax form No.2). He/she is able to fill in a borrower’s questionnaire in the Bank office.

This proposal is effective for the employed borrowers who currently have no loans with other banks. Borrowers of other categories will also have to submit fewer documents. The reduced number of documents will have no impact on the size of down payment and the interest rate.

"Having improved the services for convenience of our clients, we have made considerable progress, - states Andrey Maltsev, a Deputy Chairman of the Management Board. – In the terms of pricing Nordea mortgage terms are among the best ones on the market, our task today is to improve non-pricing product parameters on constant basis, and together with the quality services to provide the most attractive value proposition under mortgage lending programs".

Nordea Bank offers mortgage loans of the following types: Classic, Targeted loan, No-purpose Loan, Mortgage Loan for shared construction implemented by the Bank jointly with YIT, a Finnish concern and NCC Real estate. The important advantages of Nordea mortgage lending programs are the minimum down payment (from 10%), 30-year loan tenor, no sanctions for early loan repayment, possibility to choose between differentiated loan repayments and equal money installments, acceptance of commercial real estate and land plots as collateral, no commission fees charged during lending, possibility to use irrevocable letters of credit during settlement payments under mortgage deals and others.