VTB will raise mortgage rates for the second time in a month

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VTB has been raising rates on market mortgage programs since June 17. On May 29, the bank has already reviewed the conditions for market programs. A new rate increase is planned for them from June 17

 ВТБ второй раз за месяц повысит ставки по ипотеке

VTB Bank has been increasing rates on market mortgage programs by 0.5 percentage points since June 17. This was reported to RBC-Real Estate by the press service of the credit institution.

After the increase in rates, it will be possible to get a mortgage loan for the purchase of apartments in the primary and secondary markets from 18% per annum, subject to comprehensive insurance, proof of income and employment, as well as a down payment of 30% and a large loan amount (for future salary clients — from 17.9%). VTB explained its decision by the continued increase in the cost of OFZ.

The bank explained that borrowers who have received approval of applications before June 17 will be able to use previously valid rates until July 13 inclusive. VTB also retains all existing discounts for customers, they noted. For example, mortgage borrowers can receive a discount of 0.2 percentage points for a large loan amount, 0.3 percentage points — when submitting an online application. The rates for preferential programs remain unchanged and range from 2% to 8%.

Since May 29, VTB Bank has already increased rates on market mortgage programs. Then the increase amounted to 1 percentage point. Since June 5, market mortgage rates have increased by 1.5 percentage points in Sberbank. The increase in rates on market programs over the past two weeks has also occurred in other large banks, among them Alfa—Bank, Sovcombank, Urasib, Dom Bank.RF” and UBRiR Bank. On average, mortgage rates in these banks increased from 0.5 percentage points to 2 percentage points.

Average market mortgage rates increased 1.6 times over the year. According to statistics, “The House.The Russian Federation”, a year ago (in June 2023), the weighted average mortgage rate for secondary housing was at the level of 11.17%. At the beginning of June this year, the average mortgage rate for secondary housing reaches 18.33%.


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