The possibility of Russians to buy apartments in installments without the involvement of banks has increased. The newspaper reports this “News”.
In the face of a new increase in the interest rate of the Central Bank and a decrease in the availability of mortgages, Russians are buying housing in installments directly from the owners without obtaining a bank loan, the federal company Etazhi said for the publication. .
As experts note, this purchase method is popular when purchasing suburban real estate. In this case, the flat is recorded as collateral until the full payment is made in order to guarantee the seller. According to experts, installment plans from the homeowner benefit both the buyer in terms of rate and the seller, who finds it easier to find a buyer under expensive mortgage conditions. The important thing is to correctly prepare the purchase and sale contract and the deposit.
“We observed that between 2014 and 2016, when mortgage interest rates were high, demand was low, and those who wanted to sell real estate were ready to evaluate alternative options, houses tended to be sold by their owners in installments without taking out a mortgage. sale of real estate,” summed up Tatyana Reshetnikova, deputy head of the mortgage department of the federal company “Etazhi”.
At the last meeting of the Central Bank of Russia raised Increase key rate immediately by 200 basis points up to 15% – maximum level since May 2022.
previously economist guess Mortgage rates will be 20% annually until December.