In August 2006, Alfa-Bank launched its mortgage lending program.
Today, Alfa-Bank has 11 mortgage centres in Moscow, St Petersburg, Nizhny Novgorod, Novosibirsk, Samara, Kazan, Ufa, Krasnoyarsk, Perm, Yekaterinburg, Kaliningrad, and also in the Moscow, Leningrad, Nizhny Novgorod, Novosibirsk and Samara regions, the Krasnoyarsk Territory, and in the Republics of Tatarstan and Bashkortostan. More than 25 new mortgage centres are to be opened before the end of 2007.
There are different mortgage lending programs in the secondary real estate market: loans with a minimum down payment of 10% — 15% of the cost of the property, loans secured by privately owned apartments, loans to purchase cottages, and a programme to refinance mortgage loans issued by other banks. Alfa Bank’s mortgage interest rates start from 9.3% when the loan is in US dollars and 10% per annum for a loan in roubles. The lending period varies from 5 to 25 years.
Our product range is always expanding along with the market.
Alfa-Bank’s mortgage lending division is actively developing business relations with real estate companies and with its corporate and individual customers, offering them beneficial terms of cooperation. New partnership programmes have already been operating successfully in the regions where the Bank is present. Among the Bank’s partners are leading real estate agencies, legal, insurance and valuation companies who have good track records in the market.
Alfa-Bank’s monthly mortgage lending growth is 20-25%.
