Asian-Pacific Bank ranks among TOP-20 largest mortgage banks in Russia at 2020 year-end outcome

DOM.RF in cooperation with Frank RG agency has published an annual rating of 20 largest mortgage banks in Russia. Asian-Pacific Bank takes a clear lead among banks with the highest growth in mortgage lending. The number of transactions increased by 415% compared to the same period in 2019.

As to DOM.RF, in 2020, the largest share of Top-20 banks mortgage loans was issued for finished housing - 49%, 34% - for new buildings, 14% - for refinancing and 2% - for land plots and private homes.

“Mortgages in Russia have reached a completely new quality level that logically reflected in the increase in transactions number. We have done a great job; APB has always been one of the first banks that has supported initiatives on mortgage subsidies. At the same time, we offer additional discounts on a number of tariff plans for our clients – participants of the bank’s payroll card program and public sector employees. Last year we opened several new Mortgage Credit Centers, where specialists help future borrowers go through all steps of deal structuring: from choosing a real estate developer to signing purchase contract. However, we care not only about those who made the decision to take a mortgage, but also about those who may have taken a mortgage earlier - before the key rate went down. We are ready to refinance existing mortgages, taken in any other bank, on our more favorable terms”, - commented Nikolay Malnev, Head of Mortgage Lending Development of Asian-Pacific Bank.

Currently Asian-Pacific Bank offers its clients a wide range of mortgage lending programs on primary and secondary real estate market. APB offers its own and state lending programs, including “Far East mortgage” at a rate of 2%.

APB offers loans with a minimum initial payment of 15% of the total housing prices. Mortgage lending term stands at 3 to 30 years. APB clients can use maternity fund or military mortgage.

In addition, APB offers a mortgage-refinancing program, which allows for reducing current interest rate to 7.9% per annum on loans issued by other banks.