Archive for September 16th, 2009

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4 Ukrainian Banks Start To Lend For Mortgages Again!!

September 16, 2009

Well here is a bit of good news and bad news.  Ukrainian based banks are starting to do mortgages again after over a year of stopping the issuing of mortgages……that’s the good news!

The bad news?……..Just look at those interest rates and the size of the down payments!! 

Four out of 50 largest Ukrainian banks issue mortgage credits to buy real estate on the secondary market, reads a press release of Kyiv-based Prostobank Consulting Company. The release says that as of September 14, 2009, BTA Bank, Universal Bank, BM Bank (all based in Kyiv) and Folksbank (Lviv) issue the said credits, while Kyiv-based Ukreximbank suspended issuing the mortgage credits on the purchase of real estate on the secondary market. The release says that BTA Bank proposes credits for the period from one to four years with 20.19% interest rates and 50% of the sum down payment, Universal Bank issues credits for the period of one, five, 10, 15 and 20 years with 25.80%, 24.34%, 24.15%, 24.08% and 24.05% interest rates respectively and 50% of the sum down payment; BM Bank – for the period of one, five and 10 years with 27.85%, 26.39% and 26.20% interest rates and 50% of the sum down payment; Folksbank – one, five, 10 and 15 years with 24.66%, 21.77%, 21.39% and 21.25% interest rates and 40% of the sum down payment Prostobank Consulting told Interfax-Ukraine that Ukreximbank issued mortgage credits for one, five and 10 years with 29.85%, 28.39% and 28.20% interest rates and 50% of the sum down payment. All banks issue credits to buy real estate on the secondary market in hryvnias. Prostobank Consulting’s core business is conducting market research on the retail products of commercial banks.   – Interfax-Ukraine

 

Errrm – yeh, sorry about the very bad English, but I didn’t write the article!!

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