UrBC, Yekaterinburg, April 18, 2017. The Ural Bank for Reconstruction & Development (UBRD) is now offering reduced mortgage interest rates starting from 10.8% a year, the bank’s press service reports.

‘The decision has been brought about by the current market situation. We’ll deal with this on a case-by-case basis, with the actual interest rate depending on the type of mortgage, the borrower category, and the size of the down payment,’ says UBRD Mortgage Director Lyubov Toropitsina.

Toropitsina says the bank is designing its own mortgage schemes without any outsources’ help, so the UBRD can meet the needs of a wider range of customers.

‘What we offer is good quality service, speedy application processing, and personal approach to every query submitted. Customers who get their salaries or wages into this bank’s account can enjoy the most preferential terms and apply for a mortgage right in their workplace with their personal bank manager’s help,’ she says.

The Ural Bank for Reconstruction & Development entered the mortgage market on March 1. Funds can be borrowed to buy either an existing or a new home.