OREANDA-NEWS. May 20, 2013. Sviaz-Bank has resumed issuing loans under its Large Mortgages product program. A new loan is made at an interest rate up from 15% per annum in rubles, depending on the program chosen by the borrower – Econom, Econom+, and Business.

Loans are issued for consumer needs against the security of commercial real estate, apartments in apartment houses, residential houses, and townhouses selling with adjoining land.

Loans are made for terms of up to 15 years within the price range to 400,000 rubles to 10 million rubles in Moscow Region and up to 5 million rubles in other regions under the first two programs, and up to 30 million rubles in Moscow Region and up to 20million rubles in other regions under the business loan program.

A loan can be issued to up to five borrowers to increase the total loan amount.

Loans given under the programs may be repaid before expiry without restrictions.

“In our view, the mortgage lending segment has a great potential today, and Sviaz-Bank has resolved to resume lending in this segment because demand for loans in this category is very high. A loan can be used, for example, for apartment repairs or development of proprietary business, or purchase of commercial real estate deposited as security,” said Alexei Bakhayev, Director of the Bank’s Retail Business Development Department.