OREANDA-NEWS. The Bank of Moscow and the real estate development company Urban Group have entered into a partnership agreement on co-operation in the sphere of mortgage lending. The agreement covers the sites in the company’s three projects under construction: the house-hold cooperatives "City of Embankments", "Opalikha О2" and "Pyatnitsky Quarters".

Within the framework of this Agreement the Bank of Moscow will provide mortgage lending services to Urban Group’s clients under four special programmes: "A Flat in a New-Built", "State Supported Mortgage", "Mortgage + Maternity Capital" and "Victory over Formalities".

The buyers of flats in the Urban Group housing complexes will enjoy lower interest rates: from 11.4% during the period of construction and from 10.9% after the registration of title in real property.

"Thanks to co-operation with the Urban Group developers our borrowers will have additional opportunities to buy new and comfortable flats. From its side the Bank of Moscow is ready to offer most accessible and top quality mortgage products. We have no doubt that our joint efforts will help clients become the owners of real property within the shortest time possible", commented Georgy Ter-Aristokesyants, Director of the Mortgage Lending Department of the Bank of Moscow.

"To date only two banks in Urban Group’s partner-bank list provide a well-supported mortgage programme. One of them is the Bank of Moscow", says Leonard Blinov, Marketing Director of Urban Group. "The Bank of Moscow has proved to be a reliable bank. First and foremost this has been confirmed by the trust of over 9 million individual clients. A wide range of mortgage programmes and specifically simplified conditions to apply for a loan will permit our clients to choose a most suitable way to resolve their housing problems."