Promsvyazbank Revises Mortgage Lending Terms

Promsvyazbank (Moscow) has revised credit terms under its own mortgage lending program. Now, clients are to pay interest from 14% on rouble credits provided for purchasing finished apartments or other immovables (previously 15%) and from 10% on hard currency credits (11%). If clients borrow funds to buy apartments under construction, or immovables that have yet to be registered as property, the interest rate is set from 17% on rouble credits (18%) and from 13% on foreign currency loans (14%). The credit will now make up 85% of the market value of apartment (up to 70%). (Banki.ru)