Belarusbank revised the terms of the super-loan for new buildings, issued at 1%
The much-talked-about 1% loan for buying apartments in new buildings cannot be repaid early for the first five years.
Belarusbank has already clarified the terms of the mortgage program, writes Office Life.
The loan appeared in early August, and by August 21, information about the new nuances of the program had already appeared on social networks.
As stated on the bank's website, "early repayment is carried out without restrictions, with the exception of the loan "Mortgage with us" (grace period 24 months), for which the right to early loan repayment is granted only after 60 months from the date of conclusion of the loan agreement".
— The changes came into force today, — Office Life was told at Belarusbank. — This loan cannot be repaid early for 60 months. This applies to all developers.
The bank also clarified that these 1% mortgage terms apply to new contracts being concluded. For those who have already managed to conclude them, the previous terms will remain.
Thus, the super-loan will now be repaid as follows: in the first year, only interest on the loan must be paid, then the repayment of the principal debt begins, and during all this time a rate of 1% per annum will apply. After that, the main rate will come into effect — the refinancing rate plus 6.15 percentage points (currently 15.4%). And only after three years of payments at the full rate will it be possible to repay the loan early.
Previously, journalists calculated approximate payments for the super-loan when buying apartments from various developers. For example, loan payments for 50% of the cost of a one-room apartment in the $120,000 range will be: from the 1st to the 12th month — 151 rubles, from the 13th to the 24th month — 875 rubles, from the 25th to the 239th month — 2363 rubles. For such a loan to be approved, the salary must be at least 3,800 rubles.
As clarified by Belarusbank, there are currently many applications for this loan. How long this program will be in effect is not yet known.
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