Banks continue to lower mortgage rates. The most prominent news items this year have been “Belinvestbank,” “Belarusbank,” and “Belagroprombank.” Yesterday, “BelGazprombank” announced the good news.

The interest rate is being reduced by 0.6 percentage points—from 14.9% to 14.3% per annum. It is calculated as the refinancing rate of the National Bank of the Republic of Belarus plus 5.05 percentage points.

Thus, the “Stroim Vmeste” program provides financing for apartments, single-family homes, cottages, townhouses, and business apartments. You can borrow up to 90% of the property's value for a term of 20 years. That means the rate is 12.8% per annum for the first 365 days, and then 14.3%.

There is also a “Stroim Vmeste” program that allows you to purchase all of the above, but only from a select group of partners:

• “Astodevelopment”
• “Zelenaya Gavan”
• “Astomax”
• “Iron”
• “IronInvestProject”
• “BelBusinessResource”
• “DomStroyAgent”
• “Strominvest”
• “Strominvest-Ratomka”

For the first 180 days—that is, six months—the rate is 4.99% per annum, thereafter 14.3%.