Yerevan/Mediamax/. HSBC Bank Armenia has signed a Memorandum on Cooperation with First Mortgage Company UCO LLC (FMC) on refinancing an existing pool of FMC’s Mortgage Loans.

Borrowing customers of First Mortgage Company, whose loans are included in the refinanced pool, will be individually notified in advance. No significant changes will apply to First Mortgage Company’s borrowing customers as a result of the deal, since according to the Memorandum the annual percentage rates of the refinanced mortgage loans will remain unchanged.   
    
\"We believe this could become an alternative funding source, that could further improve our company’s financial performance”, - First Mortgage Company CEO David Atanessian said.

“In addition to the credit products offered by HSBC, we are ready to consider refinancing First Mortgage Company loans if the applications are in line with the respective guidelines established by the Bank”, - HSBC Bank Armenia CEO Astrid Clifford said.