UrBC, Yekaterinburg, April 26, 2018. The Ural Bank for Reconstruction & Development and its partner developers came up with a special offer for new and existing homes: a mortgage at 8.9% a year; the offer holds through the end of the year, the bank’s press service reports.

‘Declining interest rates are expected to boost home-buying with borrowed funds. According to Dom.rf, the average annual interest rate on a mortgage for new and existing homes came to 9.58% and 9.83%, respectively, in the first quarter of the year (compared with 11.61% and 12.11% a year earlier). Thanks to its expansive partner developers’ base, the bank is now ready to offer mortgages for as little as 8.9% a year,’ the press service says.

Under the terms of this special offer, the down payment starts from 20%, and the apartment must be put up by an authorized developer and the bank’s partner. For a full list of authorized developers and the mortgage terms and conditions, please go to Mortgage section of the UBRD’s website.