By the end of the year, banks may suspend the program while waiting for the government to allocate additional funds. According to the operator of the program “Dom.RF” as of September 12, the cumulative limit for issuing mortgages was chosen by banks by almost 92%
The family mortgage may stop before the end of the year, Kommersant writes. According to him, large banks have almost completely exhausted their issuance limits.
In particular, Sberbank stopped signing up for new deals the day before, and Uralsib stopped issuing loans. The authorities have extended the family mortgage — and this is the most extensive program with state support — until 2030. However, the new limits have not yet been allocated, and the timing of the relevant decision has not been determined.
According to the operator of the program “Dom.RF” as of September 12, the cumulative limit for issuing mortgages was chosen by banks by almost 92%. The remaining amount of 0.5 trillion rubles can be selected before the end of the year.
Will those who will have to postpone their transactions suffer financially, given how the situation with prices in the real estate market may change? Konstantin Barsukov, CEO of the Relight-Real Estate agency, says:
Konstantin Barsukov, CEO of the Relight-Real Estate agency, “For any bank, the approval of an application does not mean an offer, does not mean an unambiguous obligation of the bank to issue a loan. If we take out a family mortgage, the government has said that it will not allocate more limits, accordingly, the bank will not be able to issue a loan on the terms on which it was approved. Or some cardinal event will happen, they will review the program, they will say that now they issue loans at such and such rates or for such people, and not for such, and until the loan agreement is signed, the bank has the right to refuse to issue a loan or change the terms. Regarding the change in the market situation, I do not yet see any prerequisites for prices to rise, the situation is more likely to remain the same as it is, with a lower probability, prices may rise by the end of the year. Therefore, there will definitely be no catastrophe, and all these conversations are conversations precisely in order to increase demand. I can hardly believe that the limits will end before the end of the year and they will not be renewed, although theoretically, if there is a task to save money, they can do this.”
On the eve of Domklick, a subsidiary of Sberbank dealing with mortgages, Business FM was assured that for customers who have already signed up for a deal with the bank, mortgage loans will be issued on a regular basis. At the same time, the bank is still accepting applications for the Domclick program. Recording will resume after the allocation of an additional limit.
Says realtor, blogger, investor Alexander Kharybin:
Alexander Kharybin, a realtor, a real estate market expert, wrote yesterday that they would give money for already scheduled transactions, but a lot depends on the situation here. If they have money left, then yes, and if not, then no. People have already written that they approved the mortgage, but yesterday they were refused. Family limits are running out, if new limits are not allocated, it will put more pressure on the market, it may decrease by 5-10% over time, because they are still buying a lot on a family mortgage, albeit a reduced one. But in general, there is a very large amount of money in people’s accounts now, many are afraid to keep them on deposits for a long time, so I do not expect a collapse, I do not expect prices to rise in the near future. Maybe in a couple of years prices will be higher, because after all, a lot of money has been printed now, invested in the economy. There are a number of banks that continue to give family mortgages, but usually everything is a little more complicated, sometimes according to documents, sometimes they have additional conditions for issuing these mortgages, so you can work with small banks. But it’s not always convenient, they don’t always have everything set up well, it turns out quickly, so let’s hope that the limit will be approved.”
The updated family mortgage program is valid until 2030 and applies to families with children where there is at least one child under the age of six. As part of the program, you can take out a mortgage to buy an apartment in a new building or build an individual apartment building.
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The rate is 6%. The loan amount is up to 12 million rubles for residents of Moscow and the region, St. Petersburg and the Leningrad region, for other regions — up to 6 million rubles.
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