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News

04.02.2016

Rosbank sets a special programme for foreign currency mortgage

Rosbank has introduced a new special terms of foreign currency mortgages refinancing into rubles for several categories of borrowers.

1. The borrowers complying with the terms of AHML* assistance programme with special social circumstances adopted by the bank. For example, families with 3 and more minor children, single parents with a minor/child/children, single-parent families due to the loss of a breadwinner, the family with a disabled / sick family member with cancer disease (spouse and their children).

For this category, the bank sets a special conversion rate for foreign currency mortgage debt into rubles in the amount, sufficient to reduce the debt in ruble equivalent at the exchange rate of the Bank of Russia USD/EUR/RUR at the date of the refinancing by 30% but not more than 1.8 million rubles from the total amount of loan principal debt.

2. For the borrowers, complying with the terms of AHML* assistance programme but without social circumstances listed above, the bank sets a special debt conversion rate from the foreign currency into rubles in the amount, sufficient to reduce the debt in ruble equivalent at the exchange rate of the Bank of Russia USD/EUR/RUR at the date of the refinancing by 20% but not more than 1.2 million rubles from the total amount of loan principal debt.

When refinancing at these terms the interest rate for a loan in rubles is set at 12% per annum.

In this regard it is necessary to send the application with the consent on the programme addressed to division, specially organized for foreign currency mortgages refinancing, from February, 5th, till March, 31st, 2016: 117261, Moscow, Leninskiy prosp., 81/2.

In addition to these programmes for those foreign currency borrowers who do not meet the above categories, Rosbank retains preferential refinancing conditions at a rate of 11% per annum, which is fixed for the entire loan term. For those borrowers who are willing to take credit “holidays”, Rosbank retains preferential refinancing conditions at a rate of 9% fixed for 2 years, then a floating rate which is adjusted quarterly.

"We agree that risks should be divided between the government, banks and borrowers. Therefore we have analysed our foreign currency mortgage portfolio and have prepared individual terms for several categories of our clients. We expect that this programme will help our borrowers, who faced difficulties with loan repayment, to find an appropriate solution. As of today there are about one thousand FX mortgages in Rosbank`s retail loan portfolio. More than 70% of our customers are regularly repaying their loans. Since end of 2014 Rosbank has been offering to foreign currency mortgage borrowers preferential restructuring and refinancing programs appropriate for both sides. In 2015 more than 35% of our clients repaid, refinanced or restructured their loans", - Rosbank Deputy CEO Alexis Lacroix commented.

The further information on the procedure of acceptance of the applications and the restructuring and refinancing of mortgages at the special assistance programme can be obtained by calling Rosbank contact center by phone 8-800-500-47-89 or send your request by email: vipoteka@rosbank.ru.

* according to the Decree of the RF Government No. 1331 as of 07.12.2015.