Moscow’s ROSEVROBANK is reducing the mandatory downpayment for a flat bought on mortgage. The minimal share of own funds for a credit product providing for the purchase of flat at the secondary market was lowered to 5.0% of the collateral value, while the minimal downpayment when purchasing a flat at the primary market — to 10% of the investment value. In addition, the recipients of credits to buy flat with the minimal downpayment will have their interest reduced after the loan debt balance falls to 70% of the flat’s collateral value.
Source: BANKI.RU, September 26, 2007
