Swedbank has started to give out credits for the real estate abroad
10 July 2008Swedbank has presented a new product in the context of hypothec crediting program - the credit for purchase of the real estate abroad on the security of the real estate in Russia.
The bank can give credit up to 70 % of estimated cost of the inhabited real estate, which is available in the property of the client. The credit is given in US dollars or euro for the term of from one year till 25 years.
Rates under the credit deviate from 10 % up to 11,5 % annual (or 1Year Libor + 5 - 1Year Libor + 6) and depend on term of crediting, the form of incomes acknowledgement and the size of an initial payment.
The commission for delivery of the credit will make 1 % from the sum of crediting, but not less than $500 (350 euros) and no more than $2 thousand (1,35 thousand euro). The moratorium on preschedule repayment of the credit is absent; the commission for preschedule repayment within the first 12 months will make 1 % from the sum of preschedule repayment.
In order to receive the credit, the borrower should be at least 21 years old (at the moment of the termination of validity of the credit agreement the age should not exceed 65 years), to have the seniority not less than 2 years, thus he should successfully pass a trial period on last place of work by the moment of drawing up of the application for credit.
