Sberbank of Russia : and Samolet Group issue first 2.9% mortgage under updated subsidy program conditions

SberBank and Samolet Group have concluded their first mortgage transaction in the framework of the updated conditions for their subsidy program and the State Support 2020 program with a reduced interest rate of 2.9% per year for 20 years. The first transaction was on the acquisition of an apartment in the Prigorod Lesnoye (Forest Suburb) residential complex in Moscow Region's Leninsky district.

According to the new conditions, from April 8 to July 1, 2021, SberBank clients will be able to purchase construction-stage housing under a participation agreement (PA) or an agreement of cession (ACR) or purchase completed housing under a sales and purchase agreement (SPA) from the developer at a 2.9% interest rate for a period of 12 to 20 years provided that the client applies through the Online Real Estate Registration service and takes out borrower life and health insurance with a SberBank-accredited company. The down payment is 15%.

'Today we are seeing active development on the real estate market and high demand among our clients for apartments purchased through mortgages under the preferential terms of the State Support 2020 program. That is why we have decided to lower the subsidy program interest rate and, together with our developer partners, offer the best possible conditions for our clients. Clients can apply for a 20-year mortgage at an interest rate of merely 2.9% for the entire period. In the framework of the Mortgage with State Support for Families with Children program, we are offering even more favorable conditions, with an interest rate of 1.5%. We are particularly pleased to note that Samolet Group was the first to support the initiative and join this program,' comments Nikolay Vasyov, Vice President and Director of the DomClick Division.

'Our main goal is to present clients with the best possible conditions. We are pleased that the leading national bank supports us in this endeavor,' notes Samolet Group Managing Director Dmitry Volkov. 'The new program is of tangible benefit to clients. Clients who are the first to take advantage of the program will save RUB 2.1 mn on their mortgage over the next 20 years thanks to the reduced interest rate. I think you will agree that that is a hefty sum that they could use to completely furnish their new apartment, for example.'