Mortgage lending rates in Russia has grown to a record 23 percent.
Despite this, the demand for housing remains even under such conditions.
“Some credit institutions are ready to issue mortgages at a rate of 23% per annum, and the average approved rate since the beginning of July has already been 18.9%, but demand even at such rates still persists,” Tatyana Reshetnikova, deputy head of the mortgage department of the federal company Etagi, told Izvestia.
The expert noted that most of those who decide to apply for a mortgage now use various ways to reduce the monthly payment, making it the most comfortable.
Banks themselves are trying to help customers. For example, many are now actively offering to purchase real estate at a lower rate, if they pay a one-time commission on the loan amount, the initial payment will decrease. This “move” helps to reduce the monthly payment to “reasonable limits”.
Bargaining has become another way to reduce payments. Due to the fact that the terms of sale of secondary housing have increased significantly, on average you can get a discount of up to 6%.
Earlier it was reported that the increase in the rate on an already issued mortgage loan in the event of a borrower’s refusal of insurance is now limited to Of Russia. The relevant provision of the law came into force on July 1.
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