North West | Finance, business | Real estate

Banks give no mortgage to Novgorod people

14 May '09
Over the first four months of 2009 banks that cooperate with the Novgorod Regional Mortgage Fund gave no mortgages to people in the region, pleading the ongoing financial crisis, a Fund source said today.

Over this period the Fund was reportedly spending its own circulating assets to cover mortgages, including those at a construction stage.

In January April the Fund issued 123 mortgages worth a total of $4m, the source said.
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Tags: mortgage (69) / bank (1997) / Novgorod Regional Mortgage Fund (0) /

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