Raiffeisenbank and RENOVA StroyGroup launched a new mortgage scheme recently that allows one to buy an apartment in Yekaterinburg’s newest Academic district.

Customer willing to buy a place there can choose among three mortgage programs, all of which offer such advantageous terms as a 15% down payment, twenty-five years to pay the rest off, no moratorium on or commissions for the early repayment, no need to look for any guarantors or collateral. The bank promises to process the applications within three to five working days.

What is more, through a special offer run by Raiffeisenbank between February 1, 2011 and March 31, 2011, no commission will be taken for the issuance of the mortgage.

‘We are happy to cooperate with such an important bank that is quite reputed for its dependability and stability. I hope this can make homes in Academic even more affordable to their future owners,’ says RENOVA StroyGroup’s Director-General Mikhail Semenov.

Raiffeisenbank’s Uralsky branch Director Vitaly Milovanov says Academic is a dynamically developing district of Yekaterinburg with great prospects.

‘I’m positive our offer will appeal to those looking for good realty-buying terms and advantageous mortgages. Raiffeisenbank is now ready to accept customers’ applications on a custom-made, flexible scale and to provide the traditional European quality of service,’ he feels.

Now Academic is a unique multi-faceted area development project in Yekaterinburg, a living quarter that will soon get over 9m sq m worth of housing for 325,000 people. Every building offers a wide range of homes from studios to three-bedroom apartments, with area varying from 40 to 130 sq m.