Housing loan down payment increased in Russia 02:27

In Russia, the size of the minimum down payment for a mortgage has doubled. Changes announced press service Central Bank of Russia (CBR).

From 1 June 2023, the minimum mortgage payment is 20%, not 10%. After six months, starting January 1, 2024, the entrance fee will increase to 30%.

The regulator explained the increase in the fee with the risk of a price bubble in the mortgage loan market. It is noted that the related sector is growing rapidly and with it, the number of high-risk loans with a high debt load from Russians has increased.

As Elvira Nabiullina, head of the Central Bank of the Russian Federation, noted, risky mortgages are fraught with negative consequences for the country’s economy.

Denis Bobkov, formerly Head of Marketing and Analytics at Asterus saidThat the Bank of Russia has now changed the premium-to-risk ratios, which will depend on the size of the down payment on a mortgage loan. At the same time, an increase in the risk ratio will force banks to raise loan interest rates. This will make them less attractive to customers.

Source: Gazeta


More from author

Watch LIVE ONLINE Platense vs Unión on TNT Sports, League Cup 2023 formations, when it is, where and how to watch it online via...

In one of the matches on date 6 of the Professional League Cup 2023, Calamar will host Tatengue at the Ciudad de Vicente López...

RUSADA accused the American skater of violating anti-doping rules 23:01

The press service of the Russian Anti-Doping Agency (RUSADA) responded to a statement by American figure skater Vincent Zhou regarding the alleged violation of...

In the years 2008-2013 alone, the PO-PSL government ‘saved’ as much as PLN 10.6 billion on the military.

Most Poles were downright terrified by the release of the July 2011 document “Plan for the Deployment of Armed Forces,” approved by then Minister...

Godoy Cruz v Racing Club | September 25, 2023

Live resultsLatest newsTransfersThe competition InfoClassificationCompetitions and resultsLatest newsEquipmentBarcelonaReal MadridAtletico MadridValenciaSevillePlayersAntoine GriezmannKarim BenzemaLuis SuarezMemphis DepayEden HazardUEFA Champions League InfoClassificationCompetitions and resultsLatest newsFresher footballEquipmentManchester UnitedReal MadridJuventusBarcelonaPSGPlayersLionel...