Bank CenterCredit JSC (Kazakhstan) offers mortgage crediting for purchasing share holding rights in house building

/IRBIS, Natalya Kuznetsova, April 27, 05/ - Bank CenterCredit JSC (Almaty), whose shares and bonds are traded in Kazakhstan stock exchange's official "A" listing category, today spread press-release saying bank offers mortgage crediting for purchasing share holding rights in house building for population already on the initial stage of building. The release says bank has made agreements about joint activity with building companies Monolit-Astana LLP, Stolichnaya nedvizhimost JSC, Stroyinvest SK LLP (all - Astana), Al-Afi limited LLP, Building Lease Company LLP, Niko, Kuat, Elit story, Basis-A (all - Almaty) and other. Bank offers following terms of crediting for participating in share-building: term of crediting - up to 15 years, currency - tenge, size of initial fee from 15 to 30% depending on terms of agreement with the builder, interest rate - 16% APR. "It's important that loan is given in tenge, and interest rate is fixed and is not indexed relative to dollar rate. Prescheduled repayment without fines and without moratorium are also provided and expenses for credit documentation. Scheme of loans giving for clients depends on terms of agreement about joint activity made between Bank and builder", - bank's message says. At present bank is improving terms of loans giving - examines the possibility to reduce interest rate and initial fee, simplifies registration procedure. Loans giving for clients' participating in share-building with builders, who have no agreement about cooperation with bank, is also possible. [2005-04-27]