All you wanted to know about loan refinancing (part 4)
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Benefit from mortgage loans
All you wanted to know about loan refinancing (part 1, part 2,  part 3)

We talk about loan refinancing again but this time about mortgage loans. Today we will talk with Gevorg Manukyan, Head of Individual and Premium Client Managers Service, Ameriabank CJSC.

In what case is it worth thinking about refinancing of mortgage loans?

If the terms of the loans you have taken seem to be unfavorable to you, if your monthly repayments absorb the greatest part of your budget, refinancing of loan at Ameriabank is a good opportunity to get better terms of lending. We can increase the loan term thus reducing the amount of your monthly payments. We also offer rather attractive interest rates, so very often due to refinancing the loan interest rate reduces too. For instance, imagine that you received a mortgage loan two years ago at 16% annual interest rate, have been properly making all monthly payments but still have to pay for several years. Now when you learn that Ameriabank offers mortgage loans at 11% annual interest rate, it’s high time to apply for refinancing of your loan.

Very often even the idea of going through the whole procedure of applying for a loan again keeps the borrowers back from refinancing their loans. What would you say in this regard?

Borrowers will need to go through these procedures. It is required by law and is inevitable. But I assure you that our offer is financially beneficial enough to spend time and refinance the loan. Many clients apply to us not because they want to increase the loan term and reduce the amount of loan repayments but because of attractive interest rates. 11% annually is of course better than 16%. As to loan term, just on the contrary, they ask to shorten it to have the loan repaid sooner. In this case the borrower still pays less monthly as the interest rates are reduced.

Is it true that Ameriabank bears all costs while refinancing mortgage loans as well?

Yes, this offer covers all types of loans refinanced under Ameriabank’s campaign until August 01, 2016, including business loans, mortgage loans, consumer loans secured by real estate or vehicle, non-revolving credit lines and overdrafts. The borrower does not pay loan disbursement and servicing fees. Ameriabank bears collateral appraisal, notarization, and cadaster registration costs.

Mr. Manukyan, Ameriabank offers a wide range of mortgage loans. Does this campaign cover all types of mortgage loans or does it refer to only to residential real estate?

We refinance all types of mortgage loans, including loans for purchase of apartment/residential house, loans for construction/renovation of residential house, loans for purchase of commercial real estate. By the way, the last one is one of our most popular products. Very often clients who have stable income, wishing to have alternative income sources, buy commercial premises to give them for rent in future. Loans for purchase of commercial real estate may be issued for a term of up to 15 years. We are open to discuss the possibility of consolidation of several mortgage loans of the client received from different banks. I would like also to note that along with refinancing we provide new loans too.

Besides favorable lending terms, our new clients who bring their loans to Ameriabank will benefit from new alternative approaches to servicing. For instance, Ameriabank’s “Yeritasardakan” and “Arshakunyats” branches are open seven days a week (except for some 2-3 non-business days a year) with an extended schedule, from 10:00 a.m. till 9:30 p.m. This schedule is very convenient for clients working from 09:00 a.m. till 6:00 p.m. Besides, these branches are located at trade and entertainment centers so you can successfully combine shopping and banking. Perhaps you have come across our new express-banking terminals in the city enabling clients to execute various operations, including loan repayments via cash-in terminals, without visiting the bank. I would like to note that Ameriabank is actively developing distance banking services which is one of our top priorities today. Our new clients can use the whole range of distance banking tools, including mobile banking, TV banking, online banking and phone banking, and get access to banking services any time they need.

Thank you for the interview. I think that today the number of your clients will definitely grow by one and it will be me. 
Updated 09.06.2016, 15:49
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