Under what conditions the developer can get a loan?

04.03.2011 07:50
Articles about real estate | Under what conditions the developer can get a loan? For lending to the construction sector is required to ensure security for 200% loan. As a rule, it is already constructed facilities and the construction site itself. Credit is given in dollars and only on the commercial real estate.

About this at a roundtable at the Press Center of the Information Agency LigaBusinessInform (str. Shamrylo, 23), said head of corporate business, "Bank of Cyprus Irina Ivchenko.

The expert noted that the loan is granted under the 8-9% + one-time fee for processing at a rate of 1%.

"In our project the bank is only under 50 to 50, when 50% of project costs paid by the owner, and 50% - the bank lender. Maximum loan from Bank of Cyprus" is now $ 20 million, "- said the expert.

In this case, Irina Ivchenko noted that the banks this year will not lend to housing and offices. In preference mall and hotel.
Content tags: Mortgages developers
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