Sverdlovsk Gubernskiy Bank keeps improving mortgage lending terms; one of the improvements has been signified by the introduction of a new mortgage program called My House 2. This program allows a client with 30% of the cost of their would-be dwelling and with the preliminary purchase and sale agreement to get a mortgage of up to 15m RUR for a term of up to 15 years that they can use to have a cottage of their choice constructed for them. Collaterals or sponsorships are not required.

The bank has also introduced a differentiated interest rate for the program called My House, and it now amounts to something between 17% and 18% a year. My House gives the bank’s clients the opportunity to obtain a mortgage loan without the first installment.

Getting mortgages for the so-called pooled construction has become easier as well. The annual interest rate was reduced to 19% for the construction period, and the banks is also planning to enlarge the list of reliable builders it’s cooperating with.

In addition, all of the bank’s mortgage projects allow the client to get the loan on the day of signing the agreement without having to wait for the official registration of their property rights.

As of September 1, 2006, Sverdlovsk Gubernskiy Bank has issued 136 mortgages worth 163.6m RUR throughout the eight months of 2006.