Now, having an apartment or house with land on the secondary market one can improve his/her living conditions by purchasing home in a new house or apartment complex under the collateral of the existing real estate. In October 2011, Piraeus Bank has proposed a new mortgage program – mortgage loans on primary market under collateral on the secondary market belonging to the borrower or property guarantor.
"Mortgage lending is the priority for Piraeus Bank in retail business, that is why we pay great attention to the development of new mortgage offers with attractive terms. Beside, Piraeus Bank has recently entered the TOP-10 banks with the most favorable mortgage terms according to the rating of “Kontrakty” business weekly – Dmytro Musiyenko, Piraeus Bank in Ukraine board member and director of the branch network department, said. - New mortgage offer from the bank – mortgage lending on primary market under the collateral of housing on the secondary market for tenor of up to 20 years, with lending rate 16-16,5% per annum in hryvna (rate depending on the down payment). "
Customers can choose either annuity or standard method of repayment. Maximum loan amount is 70% of the cost of housing owned by the borrower or property guarantor (but not more than 100% of the property value on the primary market). Down payment is 1.5% of the loan amount, there are no other hidden fees or charges.
Dmytro Musiyenko, Piraeus Bank in Ukraine board member and director of the branch network department: "Bank offers a new product - mortgage lending on primary market under the collateral of housing on the secondary market for tenor of up to 20 years with lending rate fron 16% per annum in hryvna"
Piraeus Bank also offers mortgage loans on the secondary market with a rate of 16-16,5% per annum in hryvna, as well as several special mortgage programs developed in cooperation with developers with lower lending rates (starting from 12% per annum in hryvna).
More information on the new mortgage proposal from Piraeus Bank can be found on the official website of the bank, by contacting the Call Center (0 800 30 888 0) or at any branch of Piraeus Bank in Ukraine.
Note. Piraeus Bank is one of the major banking institutions of Southern and Eastern Europe with assets of EUR 57.7 bln and total equity of EUR 3.5 bln (as of 30.06.2011). Established in 1916, Piraeus Bank today has presence in Greece, Ukraine, Romania, Bulgaria, Albania, Egypt, Serbia, Cyprus as well as in the world financial centres of New York and London. Piraeus Bank S.A. leads Piraeus Bank Group, which consists of 10 banks and 21 companies covering the entire range of financial services.
In Ukraine Piraeus Bank provides a full range of banking services to individuals, small and medium enterprises and corporate clients. Business lending and mortgages are the bank’s priorities.
Piraeus Bank is a member of Association of Ukrainian Banks, Forum of Leading International Financial institutions (FLIFI) participant of the Fund of Guaranteeing the Deposits of Individuals. The Bank is also included in the list of banks authorized by the Pension Fund of Ukraine to make payments of pensions and financial assistance.
Piraeus Bank has the highest rating of deposits reliability provided by “Credit-Rating” Agency (grade “5”; last update took place on 04.10.2011), that shows the bank's capacity to make payments on existing deposits timely and in full. The Bank has «uaA» long-term credit rating with the forecast "stable" provided by “Credit-Rating” (updated on June, 21 2011). This long-term rating belongs to the group of investment ratings that is one of the highest ratings given to banks operating on the Ukrainian market.
On September, 13 2011, the Securities and Stock Market State Commission has registered the Piraeus Bank’s share capital increase by UAH 785 mio to UAH 1,628 bln. Due to the share capital increase, JSC “Piraeus Bank ICB” has one of the highest reliability level among the banking institutions operating in Ukraine.
Piraeus Bank in Ukraine Press Service
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