The established restrictions will allow banks to operate with the small remaining limits for some time and attract potential customers at their expense. According to the estimates of the Ministry of Finance, the limits should be enough until November
Due to the lack of limits, banks are tightening the issuance of family mortgages: they increase the down payment to 50%, issue only to salary clients or when using a combined option, when part of the funds is taken on market conditions. Experts told RBC-Real Estate about this.
According to the analytical center of the TYMY SaaS platform, through which mortgage transactions of the largest banks take place, as of September 26, Sberbank, Rosselkhoznadzor, Uralsib, Post Bank and T-Bank had already stopped issuing family mortgages due to exhaustion of limits. “The situation with the program continues to change dynamically,” they noted. To date, four banks have suspended the issuance of family mortgages, one bank accepts applications, but does not issue loans yet, added Tatyana Reshetnikova, deputy head of the mortgage department of the federal company “Floors”.
At the same time, most banks with retained limits have tightened requirements — for example, they shorten the loan term, issue family mortgages only to salary clients or borrowers with a large down payment. “Some of them issue a family mortgage only with an initial payment of 50% or more. Others are issued only on condition of subsidies from developers or the use of a combined mortgage option, when part of the borrowed funds is issued at the market rate,” explained the representative of Floors. There are banks that issue family mortgages only to salary clients, while others are offered a combined mortgage, the expert added.
For example, VTB, Gazprombank, Sovcombank and MTS Bank increased the initial payment to 50.1%, experts from Floors told RBC Real Estate. These changes are also indicated on the websites of credit institutions. As a rule, banks make exceptions for the first installment for salary clients, those who design a kombo library or participate in promotions from developers. In this case, the down payment may be lower — from 20-30%. Also, some of these banks issue family mortgages only when combined with a market program.
According to the analytical center of the TYMY SaaS platform, the established restrictions will allow banks to operate with the small remaining limits for some time and attract potential customers at their expense. “Now banks are trying to give the maximum out of their remaining limits on family mortgages, choosing more reliable options for borrowers with a high level of down payment, as well as using it as a privilege for their salary clients,” Tatyana Reshetnikova added.
At the same time, interest in the program remains high, fueled by, among other things, uncertainty about the program and high market rates. According to the “Floors”, the number of requests is now 6% more than in the same period in August.
“The house.The Russian Federation, which is the operator of the program, does not see the risk of stopping preferential programs this year, including family mortgages, due to a lack of limits. The Institute of Housing Development has launched the process of redistributing limits on family mortgages, which should be completed by October 10.
“We looked at which of the banks has a reserve going into next year. Accordingly, these balances will be distributed, among other things, to Sberbank and some other participants who are experiencing some difficulties with limits so that they can issue mortgages before the end of the year,” explained the deputy head of Dom.RF” Alexey Nidens.
According to the estimates of the Ministry of Finance, the redistribution of limits should be enough until November. The Ministry is monitoring the situation and, if necessary, will decide to increase the limits.
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