After the adoption of the law giving the Central Bank of the Russian Federation the right to restrict banks from issuing mortgages, it will become even more difficult for the vast majority of borrowers to get a home loan. Major banks will start rejecting every second mortgage application. This opinion was expressed by Andrey Loboda, economist and communications director at BitRiver, in a conversation with socialbites.ca.
“Today, banks do not approve 15 percent to 40 percent of loan applications. With the adoption of this law, one in every two applications will most likely be rejected by large banks. People will start turning to microfinance organizations more frequently. Or perhaps they will take out a mortgage under the guarantee of a richer person,” the economist suggested.
A bill giving the Central Bank the right to restrict banks from issuing mortgages from July 1, 2024 was submitted to the State Duma on January 16 by a group of deputies and senators led by Anatoly, chairman of the State Duma Financial Market Committee. Aksakov. In his conversation with socialbites.ca, the parliamentarian noted that the first reading of the bill could be held in February-March if the Russian government provides feedback on the document.
More details material “Newspapers.Ru”.
Formerly Central Bank supported A bill giving him the right to limit the issuance of mortgages.