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27.02.07

FOSBORN HOME has chosen two major partners to implement the relendingprogram of the Mortgage Loan Exchange Center.

Russias leading mortgage broker FOSBORN HOME in association with ZAO Raiffeisenbank Austria and Alfa-Bank are going to implement the program of the Mortgage Loans Exchange Center aimed at reissuing the previously granted mortgage loans. ZAO Raiffeisenbank Austria and Alfa-Banks have provided the most attractive and exclusive terms and conditions to FOSBORN HOME customers wishing to be refinanced: mortgage annual interest rates are from 9.5% in USD and from 11% in rubles, minimal bank loan fees and duration of the relending procedure, possibility toincrease, upon request, the loan amount up to 90% of the current real estate value, shorten or extend the loan term and change the loan currency.

We are grateful to the banks for their willingness to meet halfway with their clients and for the fact that they have managed to bring down their interest rates and fees on loans as low as possible. Raiffeisenbank and Alfa-Bank appeared to be the most client-oriented banks. In future we do not exclude the possibility of involving our other partner-banks into the program of the Mortgage Loans Exchange Center, but in the nearest quarter we will most likely be cooperating only with the selected banks within the frames of the program, VasilyBelov, Managing Director of FOSBORN HOME, announced.

FOSBORN HOME, in its turn, has lowered the cost of its relendingservices from 1.5% of the mortgage loan amount, as it used to be before,to the meager 8700 rubles. The services of the mortgage brokerspecializing in mortgage loans exchange include management of the wholerelending process as well as evaluation of the mortgage real estate bythe companys professional appraisers. During the press conference Roman Vorobyev, member of the Board at Raiffeisenbank and Director of the Retail Banking Management, mentioned: If we look at the segment of customers that took their loans some years ago, which is still servicedon the same terms that used to be relevant back then, what we undoubtedly are going to observe will be the prospective customers of the relending program. We should understand though, that today customers need far more professional and quality consultations than before, sinceover the last 5 year the market has made a huge leap forward (and not only in the mortgage field). In other words the importance of a professional and unprejudiced broker is growing. We are convinced that thanks to FOSBORN HOME many customers will be able to impartiallycontemplate the prospect of having Raiffeisenbank as their future bank in mortgage and other banking services.

Alfa-Banks mortgage program is one of the most dynamically developing programs in Russia and cooperation with mortgage brokers and real estate companies is one of its priority directions. Besides, one should not forget the high level of professionalism exhibited by FOSBORN HOME team when dealing with the difficult task of mortgage brokerage development in Russia, and Alfa-Bank, on its part, is always ready to encourage any modern trends emerging on the mortgaging market. Im convinced that FOSBORN HOME clients will be happy about the level of service provided by Alfa-Bank, Ilya Zibarev, Director of Alfa-Banks Mortgaging Department, said.

At present the Mortgage Loans Exchange Center has already received over1500 applications filed by people wishing to have their mortgage loansre-issued for the total of USD 50 million. Applications are coming in ona daily basis and preliminary estimates of FOSBORN HOME experts showthat in the next 3 months the number of applications will reach 3000while the total amount of loans will surge up to USD 100 million.

The Mortgage Loans Exchange Center was set up on December 5, 2006, byFOSBORN HOME Company. The Centers chief objective is provision of mortgagers with up-to-date information about the real possibility of lowering their mortgage interest rates and monthly mortgage payments as well rendering assistance with the relending procedure. The collected data are regularly processed by FOSBORN HOME analytical center, and as new, more competitive mortgaging terms conditions appear on the market the mortgagers will be proposed the relending option.

FOSBORN HOME Company (www.fhome.ru) is Russias first professional loan broker. Programs offered by the company include complete administration of mortgage and real estate contracts ranging from the selection of the most beneficial mortgage and insurance programs, credit file folder creation, suitable accommodation selection, its professional appraisal and, legal correctness to the registration of rights for the real estate. The company is a partner of Russias leading banks:http://www.fhome.ru/info/banks/and insurance companies:http://www.fhome.ru/info/insurer/.FOSBORN HOME clients are represented by the major Russian corporationsand over a thousand individual customers.

ZAO Raiffeisenbank Austria is ranked 10th in terms of assets amongRussian largest banks based on 2006 results (Interfax-CEA). At present,the Bank has 24 branches in Moscow, 5 branches in Saint Petersburg andregional branches in Yekaterinburg, Samara, Novosibirsk, Chelyabinsk,Nizhny Novgorod, Krasnodar, Krasnoyarsk and Perm. Among the leadingretail banks of Russia, Raiffeisenbank ranks 8th both in terms ofprivate lending and private deposits based on 2006 results(Interfax-CEA).

Alfa-Bank was founded in 1990. Alfa-Bank is a full-service commercialbank performing all the main types of banking transactions available onthe financial services market including provision of services to bothcorporate and individual clients, investment banking business, tradefinancing and asset management.

Alfa-Bank is one of Russias hugest banks in terms of assets and equity capital. According to the banks audited financial statement (AFS), over the first half of 2006 the assets of Alfa-Bank group which comprises OJSTC Alfa-Bank, subsidiary banks and financial companies reached USD 12.3 billion, total capital assets USD 1 billion and credit portfolio USD 7.9 billion reserve funds excluded. Net profit in the first half of the year amounted to USD 114.7 million (in 2005 the figure was USD 180.6 million).

Alfa-Bank services over 40 thousand corporate clients and more than1.8 million individual customers. The bank has opened 205 offices andbranches in Moscow, on the territory of Russia and abroad, includingsubsidiary banks in Kazakhstan and the Netherlands as well as afinancial subsidiary company in the United States.

Contacts for the press:

Press-secretary of FOSBORN HOME Julia Rodionova: (495) 225-87-37(ext. 151); e-mail:rodionova@fhome.ru

 

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Tel.: +7 495 721-36-17

E-mail: pr@raiffeisen.ru

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E-mail: marketing@raiffeisen.ru

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Tel.: +7 495 721-91-00

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