The developer has suspended sales of real estate in its residential complexes / Urban Group

The company "Dom.rf" and the bank "Russian Capital" (100% of shares belong to "Dom.rf") from August 6 launch a program of refinancing mortgage loans for equity holders of Urban Group. This is stated in the message of "Dom.rf".

Rates under the program start from 8.75% per annum and depend on the ratio of the loan amount to the value of the collateral. The loan amount is from 500,000 to 20 million rubles - up to 85% of the value of the collateral. The loan term is from three to 30 years.

Let us recall that, according to the analytical center of Rusipoteka, for January-May 2018, the average offer rate on both the primary and secondary markets decreased by 0.43 percentage points and by June reached 9.76 and 9.67% per annum, respectively.

Dom.rf explained that the mortgage refinancing program applies to all six of the developer’s problematic residential complexes: Solnechnaya Sistema, Vidny Gorod, Opalikha O3, Mitino O2, Laikovo, and Lesoberezhny.

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In addition, shareholders in whose families a second (or subsequent) child was born this year will be able to take out a mortgage at an even lower rate. "Borrowers who had a second and (or) subsequent child born after January 1, 2018 will have access to the refinancing program "Family Mortgage" at a preferential rate of 6% per annum," the statement says.

Under the terms of the Family Mortgage, the loan amount is from 500,000 to 12 million rubles – up to 80% of the value of the collateral. The loan term is from three to 30 years.

Earlier, the head of Dom.rf, Aleksandr Plutnik, spoke about the preparation of the mortgage refinancing program. According to him, many Urban Group equity holders took out mortgage loans at a rate of 12% and higher. He noted that the situation for all equity holders is different and the decision on each equity participation agreement will be made separately.

Only those equity holders who were included in the register of requirements for residential premises of Urban Group will be able to participate in the mortgage refinancing program. According to the materials of "Dom.rf", prepared for the meeting with equity holders of Urban Group (held on July 23), only 10% of the company's equity holders (1612) by the time of the meeting submitted documents for inclusion in the register of requirements for the transfer of housing. In total, 19,469 equity participation agreements have been concluded for apartments in all Urban Group projects.

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Urban Group stopped selling housing in its projects at the end of May. It was decided to complete Urban Group's projects using funds from the Fund for the Protection of Shareholders' Rights, the Moscow Region budget, and federal funds.

In early July, the Moscow Region Arbitration Court declared five companies, the developers of the group, bankrupt and instituted bankruptcy proceedings for a period of one year. These are OOO Ekokvartal (constructing the Mitino O2 residential complex), OOO Vash Gorod (Vidny Gorod residential complex), AO Continent Proekt (Solnechnaya Sistema residential complex), OOO Highgate (Opalikha O3 and Lesoberezhny residential complexes), and OOO Ivastroy (Laikovo residential complex).

"Dom.rf" reported the launch of a mortgage refinancing program for Urban Group equity holders