A conference devoted to joint mortgage project of Sverdlovsk Gubernskiy Bank and Aston Group was held in Yekaterinburg on March 14, 2007. The mortgage scheme is going to be available beginning from March 2007.

The event was attended by the bank’s Chairman Alexander Ivanov, the U.S. Consul General in Yekaterinburg John Stepanchuk, Aston Group Chairman Vyacheslav Trapesnikov, and some reporters.

The agenda of the conference covered some general issues as well as those devoted to problems connected with mortgage loans, mortgages for new buildings, and the cooperation prospects of Sverdlovsk Gubernskiy Bank and Aston Group.

‘A mortgage with a reasonable interest rate is now available not only for existing homes but also for homes currently under construction. A loan is offered for up to 30 years with 11.5% to 13% interest rate a year. It is targeted at young families whose total income comes to anything between 28,000 RUR and 40,000 RUR a month. This means a mortgage is now accessible without any extra collateral and can be used to pay for a new dwelling,’ Mr. Ivanov says.