PJSC Asian-Pacific Bank ranked TOP-50 among largest mortgage banks

According to Frank RG analytical agency’s information, PJSC Asian-Pacific Bank ranked TOP-50 among largest Russian banks in terms of volume of mortgage issues for August 2020.
Asian-Pacific Bank’s mortgage lending volume increased by 15% for the month and amounted to 1.7 billion rubles that allowed the Bank to take the 18th place in the rating. Asian-Pacific Bank ranked TOP-100 of Russian banks in terms of volume of mortgage issues for mortgage refinancing.

According to the statistics of the Bank of Russia, banks issued almost 155,000 mortgage loans to Russians for more than 393.3 billion rubles in this August. As noted by the regulator, the data are record-breaking in recorded history.

Frank RG's report notes that 62% of mortgage applications were approved in August, and a total of 604,000 applications were submitted. In July, 58% of 582 thousand applications were approved. Spike in interest to mortgage lending is due to average weighted rate value that in August dropped to 7.17% per annum, it is 0.11 percentage points less than in July.

“The number of house-buying transactions is growing, and it is unsurprisingly, because mortgage offers are attractiveness and variety. APB offers customers not only low mortgage rates, but also several options for execution of an application and subsequent work with the Bank. The procedure can be carried out remotely, but if a future real estate buyer needs an in-person consultation, we are ready to accompany him from the choice of an apartment to the final document execution” - commented Nikolay Malnev, Director of mortgage lending development department of Asian-Pacific Bank.

Today Asian-Pacific Bank offers various mortgage lending programs in the primary and secondary real estate market. The Bank has its own and state lending programs, including “Far Eastern Mortgage at 2%” and “Family Mortgage at 4.7% per annum”. Herewith APB provides an extra discount to its payroll customers and public sector workers for a number of preferential mortgage programs.

Loans are provided with a minimum down payment of 15% of housing prices, and the Bank can issue a loan against owned apartment. Mortgage lending term is from 3 to 30 years. APB customers can use maternity capital or use military mortgage.

Also, the Bank has a mortgage refinancing program that allows to reduce effective interest rate on a loan, issued even in another bank, to 7.6% per annum.

You can learn more details on APB's mortgage lending programs on the Bank's website.