OREANDA-NEWS. The Bank of Moscow and the PIK Group have announced commencement of co-operation within the framework of which the company’s clients will be offered mortgage loans to acquire flats at the developer’s sites in Moscow and Moscow area.

The Bank of Moscow incorporated in the VTB Group offers the PIK Group’s clients such mortgage programmes as Mortgage. Housing under Construction", "Victory over Formalities", "Government Supported Mortgage", "Mortgage + Maternity Capital", and "General Purpose Mortgage Loan". The interest rate under these programmes begins from 11% depending on the programme, initial instalment, currency and maturity period.

An important advantage is a minimum investment load throughout the period of construction. In addition the Bank of Moscow does not charge commission for considering applications for mortgage loans, maintaining accounts, extending loans and premature repayment.

Mortgage lending is one of the key directions of development of the Bank of Moscow within the VTB Group. High rating results of these operations are to a great extent connected with the development of partner relations with real estate agencies, mortgage brokers and construction companies of which there are thousands today.

"Co-operation between the leaders of the financial and developer markets will undoubtedly attract the interest of potential clients both from the viewpoint of property itself and from the viewpoint of beneficial conditions of acquisition. The joint offer of the PIK Group and the Bank of Moscow will obviously become one of the most needed in the market," noted Georgy Ter-Aristokesyants, Director of the Mortgage Lending Department of the Bank of Moscow.