AB Bank SNORAS already accepts applications for preferential housing loans

People, who lay claim to the state sponsored housing loans, can already submit applications on receiving a credit under preferential conditions in Bank SNORAS. Recipients of soft loans, for whom the state will cover up to 20 per cent of the loan, may submit the applications in any subdivision of Bank SNORAS which owns the most expansive customer service network in Lithuania.

Bank SNORAS, chosen in the contest announced by the Ministry of Finance, this year will issue the preferential housing loans for the total of 10 million Litas. The banking margin not exceeding 2.7 per cent will be applied to those who take a soft loan in Litas.

“Bank SNORAS, having the widest customer service network, can ensure a convenient and quick issuance of a soft loan in all Lithuanian cities where Bank SNORAS subdivisions operate. Besides, the preferential housing loans will be provided under more favourable conditions than those on the market at the present moment. The economic recession has corrected the prices of real estate; therefore, the persons, who lay claim to soft loans, have a marvellous opportunity to purchase the desirable accommodation for an attractive price,” states Žoržas Šarafanovičius, the deputy chairman of AB Bank SNORAS Board, the director of Retail Business Division.

The state sponsored housing loan is granted for purchasing, building or reconstructing of premises. One person, having a right to obtain a credit under preferential conditions, will be able to lay claim to a loan of up to 180 thousand Litas, a family of several members will be able to receive a loan of up to 300 thousand Litas. The amount of the housing loan will depend on the value and age of the purchasable accommodation or on the appraisal value of the premises to be built as well as on the permanent income of a person or a family and the amount of the already existing liabilities. The bank finances up to 95 per cent of the value of the purchasable and pledged premises. The maximum period of the soft loan - up to 40 years. The loans are issued in Litas, Euros and USA dollars.