OREANDA-NEWS. May 27, 2014. Sviaz-Bank (Vnesheconombank Group) has accredited Block 25 of the Katyushki housing complex at an early stage of construction by the Morton Group of Companies under its Military Mortgage and New Home programs requiring no payment of collateral.

The complex blocks are at the foundation pit excavation stage, which makes Sviaz-Bank’s mortgages more affordable because of the low cost of construction at this stage.

Sviaz-Bank is also the first Russian bank to have accredited a block for sale by issuing mortgages.

The Katyushki 2 neighborhood is in Lobnya, Moscow Region, north of Moscow city, and is one of the company’s projects and one of the most developed housing complexes in Lobnya. The neighborhood has its own social, shopping, and recreation infrastructure. It is an extension of the Katyushki neighborhood and has access to its infrastructure. The territory has playgrounds and sports grounds, recreation areas, an Orthodox Christian church, and a guarded parking lot. A square meter of floor space sells for a minimum price of 62,500 rubles. One-, two-, and three-room apartments are for sale.

Sviaz-Bank’s Uncollateralized New Home program makes low-priced apartments available at attractive interest rates – from 11.4% per annum in rubles at the construction stage. After the borrower takes out a title to the real property, the minimum interest rate is lowered to 10.7% per annum in rubles. The minimum down payment amounts to 10% of the apartment price. The program is available to Russian nationals aged from 21 years up.

Loans under the Military Mortgage program are issued at an interest rate of 11.3% per annum in rubles at the construction stage, and 10.5% upon completion of construction. Loans are issued for a maximum term of 20 years. No commissions or loan commitment payments, including loan issue commissions, are required.