New service of Sberbank, which is primarily related to financing of projects for construction of residential and business premises intended for sale and rent on the market.
Loans for project financing are approved for legal entities and physical persons, which in accordance with law participate in the implementation of residential and business premises asinvestors and contractors.
Because loans are customized to planned projection of real estate sales and their repayment does not begin before completion of construction of the facility.
About financing projects for construction of residential and business premises
Loans for project financing are approved to investors and responsible contractors who in accordance with the Law on Planning and Construction participate in implementation of residential and business premises.
The main prerequisite for project financing by the bank is that the applicant in accordance with the Law provide proof of ownership and complete technical documentation for construction of the facility.
Terms for users of project financing
Loan for project financing is obliged to establish a new company and participate in the entire investment with a minimum amount of 25% to 30%.
After submission of the report, that is certificate of payment verified and approved by the consultant and the bank, loan for project financing is to be paid successively and for specific purpose, according to the set schedule for withdrawal of funds. The loan is tailored to planned projection of real estate sales, and the client begins with its repayment only after completion of the facility that is the subject of financing.
As loan security for project financing, the bank takes the pledge over the capital of newly established company.
In order to encourage sales, Sberbank approves residential loans to physical persons under very favorable conditions. In this way, citizens can buy property from project financing while it is still under construction, or upon its completion. In cases when buying real estate takes place under construction, the bank accepts mortgage statement as security, which guarantees that the client will establish a mortgage when right conditions are met. Funds from the sale of these properties are intended for securing the repayment for project financing, according to the agreement with the investor.
For more information about this offer please visit the nearest branch of the Sberbank or contact our Contact Centre at +381 11 2257 498