Construction Corporation Renaissance of St. Petersburg (a company of LSR Group) has introduced new mortgage lending programmes for deluxe class properties of the Residence at Suvorovsky compound jointly with Absolut Bank and NOMOS-BANK. Renaissance’s customers will now have access to a number of advantages for obtaining loans.

Advantages of mortgage loans from Absolut Bank:

1. Flexible approach to solvency assessment;
2. The interest payable is not subject to the income confirmation and the loan term;
3. Any persons including non-relatives (up to 4 people) may act as solidarity borrowers;
4. The bank offers loans to non-residents and those without permanent registration permits in St. Petersburg or the Leningrad region;
5. No additional loan security and suretyship of third parties is required;
6. Loan applications are considered within three days;
7. The bank reviews the income of entrepreneurs and business owners.

Key terms of mortgage lending by Absolut Bank:

1. Maximum loan amount is 90% of the property value.
2. Loan term: up to 25 years.
3. Loans are granted at the construction stage against a pledge of the rights of claim under the co-investment agreement. Upon the completion of construction and the transfer of flat to the Borrower’s ownership mortgage by effect of law takes force from state registration of ownership rights.
4. Loans are granted in US dollars and roubles. At the construction stage the interest payable is from 12% in US dollars and from 13.5% in roubles. Upon the completion of construction and the transfer of the flat the interest payable is from 9% in US dollars and from 10% in roubles.

Advantages of mortgage loans from NOMOS-BANK:

1. The interest payable is not subject to the initial contribution and the loan term and amount;
2. No early repayment moratorium;
3. No hidden and extra payments during the loan term;
4. Option to take into account up to four income sources and the income of up to four co-borrowers;
5. No third party suretyship required;
6. The bank grants loans to RF citizens;
7. The decision to grant a loan is valid for three months;
8. The bank reviews the income of entrepreneurs and business owners.
9. Easy-to-understand loan arrangement scheme.

Key terms of mortgage lending by NOMOS-BANK:

1. The loan is granted for up to 25 years in the maximum amount of 90% of the property value.
2. Loans are granted at the construction stage against a pledge of the rights of claim under the co-investment agreement. Upon the completion of construction and the transfer of flat to the Borrower’s ownership mortgage by effect of law takes force from state registration of ownership rights with the loan interest rate reduced.
3. Subject to the form of income confirmation the interest payable at the construction stage is from 16% in US dollars or from 17% in roubles. roubles. Upon obtaining the ownership the interest rate is from 13.5% in US dollars or from 15% in roubles. ____________________________________________________________________________________

Currently Construction Corporation Renaissance of St. Petersburg is implementing joint mortgage lending programmes in cooperation with RF Sberbank, Gazprombank (Paradny Quarter and Dom u Morya projects), as well as with Absolut Bank (Dom u Morya).

The Residence at Suvorovsky housing compound has unique architectural features compared to other downtown buildings and combines graphic acutance and airiness. Wide use of glass adds to its featheriness making it look modern and stylish on the one hand, and harmoniously fitting into the existing housing developments in the area, on the other hand.

The compound comprises six sections of varying height in a cascade descending towards Kirochnaya Street. The intrinsic rhythm of the compound is accentuated through covered drives connecting the buildings to form a solid complete structure.

Extensive use of glazing similarly to another development of Renaissance of St. Petersburg, the housing compound at Shpalernaya 60, makes is possible to fill the new development with light turning the landscapes around it into part of the interior of the flats and adding sunshine to them that the residents of Northern Venice are missing so much.

The two lower floors will accommodate shops, offices and cafes thus providing for the sustainability of the compound and enabling it to meet the needs of the most demanding residents. A fitness centre is an important attribute of deluxe properties so the future dwellers will have a chance to go in for sports at any time convenient for them.

The basement floor houses a parking lot with a compact car wash provided at the entrance to the parking area.

Inside the building two semi-gated courtyards are designed with covered drives leading to Kirochnaya Street.

The price of housing properties in the Residence at Suvorovsky compound ranges from RUB 136,400 to RUB 272,800 per sq.m.