UrBC, Yekaterinburg, July 20, 2017. The Ural Bank for Reconstruction & Development (UBRD) reduced its minimum mortgage rate down to 10% a year, the bank’s press service reports.

As a matter of fact, most Russian bank in the national top thirty segment have been making their mortgages more affordable since the start of the year. The UBRD is keeping up with the market trend and has brought its interest rate down twice this year so far: by 1.2% in April and by 0.8% in July.

The bank entered the mortgage lending market on March 1. Mortgages are available for customers willing to buy a place on both existing and new home markets. In addition to standard schemes, you can also benefit from the special offers (including mortgages partially funded by your multiple-child allowance, refinancing of loans from other banks, and loans secured with your existing property).

The specific terms and conditions depend on the particular borrower’s credit history, the accuracy of their payments, and the amount of down payment they are prepared to invest. The UBRD is currently offering its mortgage packages to customers based in Yekaterinburg, Chelyabinsk, Nizhniy Tagil, Ufa, and Perm and will extend the other Russian cities before the end of September. The bank is working closely with over 130 estate agents and developers at the moment.