Sberbank of Russia : markets loans for property pledged as security at other banks

From now on you can use Sberbank's mortgage offerings to buy or sell an apartment in the secondary market that you bought with a loan taken out at any other bank. The buyer takes out a mortgage to buy a move-in ready housing, taking into account additional discounts at a rate of 7.9% per annum. The seller of the real estate is granted a loan to pay off the mortgage at another bank. To apply and take out a loan, you don't need to go anywhere or get receipts ready as everything is done completely online. For a loan under RUB3 mln, you can apply for a mortgage refinancing through a personal loan via Sberbank Online; the money will be immediately credited to the client's account.

For loans over RUB3 mln, customers need to take out a mortgage repayment loan on DomClick.ru. In this case, the seller's mortgage will be repaid by the bank rather than using the borrowers' loan. This allows you to shed a lien fast, sell your apartment, and repay your loan using this money.

The buyer becomes a mortgage borrower and starts paying it off only after signing a real estate contract.

Nikolay Vasyov, Vice President, Director of the DomClick Division:

'Property owners are increasingly facing the need to sell the apartment for which they pay off a mortgage. For example, they do that to improve their living conditions or move to another city. This offering allows you to simplify and speed up the buying and selling of the real estate that other banks have as a pledge to secure your home loan. Moreover, the service is fully transparent and secure, the participants in the transaction are not bound by financial obligations until they sign a real estate contract.'