About 25% of Russians support extending the validity period of all concessional mortgage programs. 16 percent are in favor of extending “family” mortgages, 5 percent are in favor of “state-backed mortgages 2020”, 2 percent are in favor of “BT mortgages”, 1 percent are in favor of “Far East mortgages”. . This is proven by a bank study VTB and Otkritie.
Only 6% of the participants do not want the duration of any program to be increased. 10 percent of Russians plan to take advantage of concessional mortgages in the next six months; 5 percent of them with “family” mortgages and 3 percent with “state-backed mortgages-2020”.
According to Sergei Babin, head of VTB’s Mortgage Loans Department, preferential programs account for more than 70% of all bank transactions. Two-thirds of those surveyed would reject a concessional mortgage if interest rates rose, but a third would still take advantage of it.
“Preferential mortgages have once again become the main financial tool for Russians planning to solve the housing problem. The head of the Mortgage Loans Department explained the product’s popularity as follows: It allows you to get a loan at a single-digit interest rate to purchase a new building and, as a result, make a lower monthly payment than basic banking programs. At VTB Sergey Babin.
Last week economist Andrei Loboda guessthat concessional mortgages can be extended for the whole of 2024, but in 2025 there will be no such broad offer because only certain categories of citizens will be able to use concessional rates.
The Central Bank had previously announced. to wait Mortgage market cooling.