VTB continues to accept applications and conduct transactions on family mortgages. Its conditions for salary clients and those who combine this state program with market ones remain unchanged. For the rest, the down payment is almost doubled to 50.1%
The first payment on a family mortgage from September 20 in VTB increases from 30.1% to 50.1%. The solution is due to a lack of limits. This was reported to RBC-Real Estate by the press service of the credit institution.
VTB continues to accept applications and conduct transactions on family mortgages. Its conditions for salary clients and those who combine this state program with market products remain unchanged. “At the same time, taking into account the reduction of limits on the market for other borrowers, the down payment now amounts to 50.1% of the value of the property. Customers who have submitted applications before September 20 will be able to carry out transactions under the old conditions until September 27 inclusive,” the bank’s press service explained.
They believe that this decision, among other things, will help reduce the share of highly indebted borrowers and will allow family mortgages to be issued to borrowers with a low debt burden.
Due to the exhaustion of limits, Sberbank has been suspending registration for family mortgage transactions since September 18. The bank continues to accept applications from customers for family mortgages for Domklick, but registration for transactions will be resumed after the allocation of an additional limit. Recently, the exhaustion of limits due to the high key rate is also relevant for other preferential programs. Periodically, banks suspend and resume accepting applications for IT and rural mortgages due to lack of financing.
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