Yerevan, 12.August.2022,
00
:
00
1 $ = 0 ֏, 1 = 0 ֏, 1 = 0 ֏
BREAKING


IDBank offers the most flexible and profitable conditions for mortgage borrowers

SOCIETY

Considering the unstable political situation and the fact that our compatriots have some concerns especially about buying an apartment and having loan obligations, today we will talk to Arthur Kocharyan, the head of Sales division of IDBank.

-The main question that we hear from those who want to purchase an apartment, is how can we be sure that the projects will be implemented and we will not have unfinished buildings and loss of money, as there are many cases when the buyers wait for their apartments for years?

Нет описания.

Of course, it would not be right to deny that there are such risks, but they are manageable. Let me explain how: the entire amount of the provided mortgage loan is frozen in a special account opened in our Bank in accordance with the law, prior to receiving the final act of the building and issuing the final ownership certificate of the apartment to the buyer. This means that if the developer does not build the building on time or builds it with violations, and the buyer does not receive a 100% completion certificate, then the mortgage borrower has the right to repay the frozen amount in full repayment of the loan and take back the rest, thus having no other obligation to the bank.

I think the option of freezing mortgage loans by 100% is the most important factor that the client should pay attention to when buying an apartment. This insures him against the main risk and in case the construction works are not completed on time, he does not have to repay the mortgage loan, in fact not receiving an apartment in return. Moreover, it is important that the amount be frozen by 100%, so that in case the developer does not comply with the provisions stipulated in the contract, the buyer will be able to repay his entire loan.

-That’s a good solution, I’d say it’s perfect. But will there be developers in the Armenian market who will agree to sell the apartment on the condition of receiving the money after completion?

We prefer that developers. They construct the buildings by their means, at their risk, and not the buyers. This also speaks about the responsibility of the developer: in general, if the developer is ready to work under this condition, then the probability that he will not finish the building or resort to fraud is close to zero. Anyway, if we consider the risk of the business and many other factors that can lead to that worst result, the buyer in this case, as I have already mentioned, does not lose the loan amount, he just repays his loan.

By the way, there is a tendency of buyers to be careful, to spend their funds more wisely, and the developers adapting to the market to ensure the continuity of their business, are happy to cooperate with us even on the condition of freezing money. If we pay attention, we can see that the list of developers cooperating with us is constantly replenished. IDBank offers its borrowers apartments in the best new buildings in the city: this is also a very important condition when buying real estate.

-Interest rates have recently risen in the mortgage market. Is there such a tendency in IDBank?

The tendency in IDBank is the opposite - it is decreasing (smiling, - ed.). When purchasing apartments from some developers, a very low interest rate operates in the Bank for certain terms, starting from 4,99% annually in AMD. This is an unprecedented interest rate in the Armenian market. Besides, we have privileged mortgage conditions with different developers, and for those who purchase from the secondary market we have lowered the interest rates. To tell more, the purchasers who get their salaries in our Bank, will get more profitable conditions. Moreover, IDBank now offers salary packages - IDsalary and IDsalary+ that everyone can join, regardless of which bank his employer works with. These are individual packages, in the frames of which the client gets a number of advantages for using IDBank services.

In addition, we also have package offers, in the frames of which a lower interest rate is applied, Rocket line limit is provided to the customer in the amount of 10% of the loan amount and a credit line in the amount of 5% of the credit, as well as a more profitable interest rate for the saving account. Thus, our offers are flexible, adapted to the customer's requirements and wishes.

-When purchasing an apartment, the down payment amount is also important to the buyers, especially when there is a tendency of rising of the down payment in the market.

This tendency is conditioned by the events taking place in our country and in the world in 2020. Mortgage down payments have risen in the market since the outbreak of the war due to some risks, but to the delight of IDBank customers, the same conditions continue to apply in our bank - down payment starting from 10%, in case of a second pledge - 0%. This is a part of IDBank’s policy of not creating additional problems for its clients and even to solve some problems. Due to its flexibility, the Bank considers all mortgage applications separately and if there is a small opportunity, the credit terms are approved in favor of the client. We try to offer our clients convenient and profitable conditions, making the process of buying an apartment as easy as possible. This refers to the paperwork, the drafting process, etc.

-Our last question is about the process of provision: how much time does it take from the client.

The process is as simple as possible, we accept applications and consult not only in the branches: we have launched a new service now. In Yerevan, many of our citizens are unable to visit branches due to workload, traffic jams and lack of parking lots, and as the mortgage loan requires consultation, our clients can contact the Bank and our staff will visit the client's apartment or workplace to take the mortgage loan application and other documents. The next process is also carried out considering the customer's occupation, convenience, etc.

"Stronger than life"։ a film about those who live and inspire to live after the warAMD 4,248,945 to "QaylTech": The August beneficiary of "The Power of One Dram" is "The Rehabilitation City of Heroes" - psychological rehabilitation center"Justice" Party of Artsakh welcomes the initiative of our compatriots to create a movement in defense of ArtsakhThe judge just made a decision to place Avetik under arrest for three months. Anahit Adamyan"This struggle is for establishing the rule of law and justice in our country." The reaction of Avetik Chalabyan's defense team Ucom Technically Supported the Teach For Armenia’s 3rd Annual Virtual Student Leadership CampUcom offers travelling with its roaming and become a «magnification» heroConverse Bank completes distribution of bonds ahead of scheduleDonate blood, help to liveThe trial of Avetik Chalabyan starts today. a retrospective of Chalabyan's biography and political viewsNational Polytechnic University of Armenia students completed their Internship in all departments of Ucom’s Mobile NetworkConverse Bank offers new loans to SME’s The illegalities recorded during the preliminary investigation in the case of the political prisoner Avetik Chalabyan "The arrest of Avetik Chalabyan should be an alarm for our society." The press conference of Chalabyan's family and defense was held in Yerevan Converse Bank offers mortgages for up to 100% of property purchase priceConverse Bank offers short-term loans to SMEs.About Armen and his murderers". The letter of opposition activist Avetik Chalabyan from the pre-trial detention center Ucom Sponsored the Major Book Festival of the Year: Newmag Summer Fest Ameriabank Receives Euromoney Award for Excellence as the Best Bank in Armenia for 2022 Unet XS subscribers of Ucom’s fixed internet service to enjoy internet at X2 speedThe political persecution of Avetik Chalabyan should be stopped: public and political figures comment on the illegalities in the Chalabyan case Ucom provides high-speed internet to a number of ACF "SOS - CHILDREN'S VILLAGES" centers" How do you imagine escape from investigation for a man, who repated to Armenia during the war with three sons?" Avetik Chalabyan's speech in the court hearings For immediate release The investigator and the prosecutor completely violate the procedure defined by the criminal procedures code in order to keep Avetik Chalabyan illegally in prison. The next beneficiary of "The Power of One Dram" is "QaylTech" company "EXTRA 3 GB". AFFORDABLE HIGH-SPEED INTERNET FOR UCOM MOBILE SUBSCRIBERSThe Investigative Committee possesses facts and evidences proving Avetik Chalabyan's innocence. statement of the defense teamIdram and IDBank: AMD 9.107.498 was transferred to "Children of Armenia" fundGift boxes continue their journey to Ser ArtsakhConverse bank will cover the insurance costs within the framework of program lendingOrder Mastercard Standard and Mastercard Gold and use the preferential credit lineROAMING RATES IN "KARABAKH TELECOM" NETWORK TO BE REACTIVATEDEPIC Announces Opening of Applications for EWC Armenia 2022 With technical support of Ucom “Barcamp Yerevan” took place“The Power of One Dram” is 2 years old. More than 82 million drams were allocated for various initiativesLeading International and Armenian Companies Focusing on Ecosystem Solutions Join Orion Summit 2022 Chat in roaming: Ucom offers unlimited daily communication option in roamingChat in roaming: Ucom offers unlimited daily communication option in roamingUcom offers buying a smartphone and getting wireless earbuds and a nice phone numberConverse Bank and Cityzen announce their new partnershipUcom offers unlimited internet access with “wi-fi on the go" Non-Cash Summer: A Chance to Win 22 Travel Vouchers for the Clients of Ameriabank Ucom provided the Komitas museum-institute with high-speed internet Newborns of Artsakh received their first gifts prepared by the "Anna Astvatsaturian" foundation Ucom provided Arthur Abraham's park with free wi-fi Team Telecom Armenia raised funding in the amount of $45 million Ameriabankwins Best Bank in Sustainable Finance award for 2022Ameriabank awarded with TFP Prize for Deal of the Year 2021: Green Trade by EBRD Interesting and efficient event organized by Move2Armenia and Armenian Code AcademyConverse Bank bonds can now be purchased via the mobile application