Raiffeisen Bank offers customers a new form of payment on the mortgage - covered with an irrevocable letter of credit.
Cash borrower deposited in a special account of the Bank for subsequent transfer to the seller only if all the conditions of the transaction. The seller gets the money after the transfer of the property of the borrower. After opening the letter of credit the borrower does not have access to the money.
"Using the Letter of Credit covered as settlement of transactions in real estate gives our customers the opportunity to perform safe and guaranteed payments when buying an apartment or house. This kind of calculation is particularly relevant when buying property from entities "- said a board member of Raiffeisenbank, Head of Directorate services to individuals Andrey Stepanenko.
Customers can still use the standard scheme of calculations using the safe deposit box, the press office of Raiffeisenbank.