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.

Related article: "State loans" will not affect the cost of mortgages

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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