Russia’s second-largest state-controlled bank unveils new preferential mortgage loans in occupied Ukraine
Source: Meduza
VTB Bank is accepting applications for preferential mortgage loans in the Luhansk and Donetsk Ukrainian territories now occupied by Russia. The new mortgage option offers a two-percent annual interest rate and requires a down payment of 10.1 percent of the property’s cost, with loans capped at six million rubles. VTB also plans to offer the preferential mortgage program in the occupied regions of Kherson and Zaporizhzhia “once housing construction begins there.”
Like Sberbank, VTB recently raised its market-rate mortgages due to the Central Bank’s rising key rate. VTB home loans at market rates now start at 22 percent annually.