VTB launched a mortgage program for purchase of real estate sold through bidding

VTB announced the launch of a mortgage lending program for the purchase of real estate sold at auction at.  Previously, the winner had to pay for the lot in full at once with rare exceptions- now the opportunity for drawing up a mortgage agreement has been introduced.

VTB announced the launch of a mortgage lending program for the purchase of real estate sold at auction at. Previously, the winner had to pay for the lot in full at once with rare exceptions- now the opportunity for drawing up a mortgage agreement has been introduced.

VTB Bank, along with the digital platform V-Lot, launched a mortgage lending program for buyers of real estate at auction. Thus, the credit institution became the first to offer such a service among many Russian banks, reports RBC.

Traded objects are generally sold at auction with a big discount.

The cost may be 20-30% lower than the market one, and at the same time, previously, it was possible to purchase a lot only at once and for the full price.

An exception was the situation when the objects being sold were on the balance sheet of the bank, which organized the auction.

VTB offers a mortgage lending program, which implies the ability to take out a loan for up to 30 years. The rate will vary depending on the size of the initial payment. When depositing money in the amount of 10% of the total amount, the interest rate will be 9.3%, and in case of depositing a fifth of the full cost, it will amount to 8%. At the same time, the maximum possible amount for obtaining a mortgage loan has been established. It is 60 million rubles.