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Mortgage Loans - Secondary Market Purchase
 
 
   
Secondary market purchase product offers following unbeatable advantages:  
Personalized service  

Loan process at your door step  
Ten or up to 25 years  
Loan amount up to 90% of the property cost  
Interest rates from 10.50%  
Resettlement transactions are allowed  
 
 
  Purchase of finished residential apartment in Secondary Market

Loan security Registered Mortgage on the acquired property
Loan amount Minimum:  15000 USD for Moscow region
                 20000 USD for Moscow city
Maximum: 500000 USD
Maximum Loan to value Up to 90% of the property value
Property location Within 75 kms from MKAD
Tenure Up to 25 years
Currency USD
Repayment mode annuity payments (EMI)
Prepayment conditions 1 to 6 months - 2% prepenalty of the amount prepaid
From 7th month onwards - 0% prepenalty
Money release Through Safebox
Resettlement transactions Allowed upto 2 further transactions


Basic conditions of the property to be mortgaged in Secondary Market Purchase:
  
The property should be of a minimum size of 30 sq. mtrs.
  

The property should have an exclusive kitchen and lavatory for the apartment.  
The property should not be listed on the books of capital repair or demolition.  
The property should have power supply connection and heat supply for the whole apartment.  
The property should have hot and cold water supply.  
The property should have all the necessary plumbing connections, doors, windows and roofs in operational conditions.  
The property should not be of 5 storied panel or bearing walls structure.  
The number of floors in the building where apartment is purchases should be minimum of 3.  
The property should have a concrete, stone or brick foundation.  
The property and the building should not be in disrepair condition.  
The property should be as per the floor plans of BTI.  


Ownership:

The bank accepts only spouses as borrowers and as owners of the property to be purchased.


Mandatory Insurance agreements:

The bank accepts all the mortgage loans only with the mandatory insurance agreements covering the following risks for applicable amount for the entire loan period.

1. Life and Disability Insurance
2. Property Insurance against all the possible damages and destructions
3. Title Insurance

The bank should be the only beneficiary of all the insurance agreements.


  
     
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