Do it before July 1: Where will concessionary mortgages go? President of Tsian.Mortgage Makarov: new building prices will not decrease 06/13/2024, 14:45

— Alexey, what will change in the mortgage market on July 1?

— The Ministry of Finance announced that all programs, except family housing loans, will be planned and completed with state support. This is being done to make concessional mortgages more targeted.
Currently, the most common program is a concessional mortgage of 8% with a limit of 6 million, thanks to which any resident of Russia can purchase a new building. This program will most likely be closed on July 1.

The second most popular option is a family mortgage. Conditions are more favorable – 6% loan with a limit of 12 million. This program has been extended until 2030.

However, it will most likely undergo significant changes starting from July 1. It was reported that the interest rate will increase to 12 percent for families with children over the age of 6. The issue of excluding high-income families from the program is being discussed.

The third popular type of preferential mortgage is the IT mortgage: 5% loan, 18 million limit. The program is valid until the end of the 24th year and there is no information yet about its extension to the 25th year.

— Who should rush to get a loan at an acceptable rate?

— Those who want to buy a new building should definitely try to buy it before July 1. The average interest rate for regular market loans is currently around 17%.

I believe any percentage above 12 percent is actually a hurdle. But you shouldn’t expect it to decrease yet. The key rate remains at 16% and I don’t see it falling in the coming months or even quarters.

However, for those who want to buy a house or land, it may be better to wait until July and check Cyan to get information about new programs.

For example, one of our partners, Dom.RF Bank, is developing a single mortgage with more favorable conditions for individual housing construction than at present.

— Will developers reduce housing prices after the abolition of collective concessional mortgages?

– Don’t think. Conversely, prices for new buildings will slow or reach a plateau, and second home prices will begin to rise over time.

— What tools can you use now when applying for a mortgage loan?

— If you want to save money on your mortgage, you should not limit yourself to only exclusive programs. For example, Cian offers special programs and promotions from developers and banks. Many developers offer a lower interest rate by increasing the down payment. Or, on the contrary, you can minimize the initial payment due to subsequent overpayments.

Moat mortgages, where loans are made in installments, are gaining momentum. At the same time, the financial burden is reduced, which makes buying a home more affordable.
Considering the high interest rate in the secondary market, we at Cyan are developing a special program with banks that will significantly reduce this rate and therefore the monthly payment and overpayment of the loan.

— How can the borrower choose the appropriate option?

— At Cyan.Mortgage this can be done using a calculator. After filling out a short questionnaire, the borrower submits an application to one or more banks, receives approval, and chooses where to get the loan.

This is how we constantly improve. In the near future we will offer one-click form filling – all data will be obtained from the State Services.

— How objective is your selection of mortgage offers?

— We guarantee the reliability of the selection because the offers come directly from the banks. A dedicated team monitors their relevance daily and hourly during periods of significant change.

We are a financial platform licensed by the Central Bank and we are obliged to check whether the signed loan agreement contains exactly the parameters that the person saw at the approval stage. Here we share the responsibility with the bank.

There are only nine such platforms in Russia, and none of them specialize in mortgages, except Cian. Essentially, we are building the first financial mortgage platform in Russia.

— Cyan, the mortgage is already five years old. How far has the service come in this time and what happens next?

— More than 1.2 million families have benefited from the service’s services over five years. Banks gave them more than 400 billion rubles to buy real estate.

During this time, all confidential files went through a massive digitalization process. We’ve worked hard to adapt the customer journey. There is no single platform where all programs of absolutely all banks are presented. But the transition from fragmentation to collection has already begun, and we are actively working on it.

Another question: it will be extremely difficult for a person to navigate such a sea of ​​information: “What if I didn’t look at everything?” And it’s almost impossible to see everything. This is where personalization comes to the fore. This is the second thing we want to do; To offer our customers a tailor-made offer.

The customer doesn’t want to choose from 50 options, they want to choose from three options. And we need to make sure that these three offers are truly the best for him.

We want to build a completely seamless process that will cover all steps in real estate transactions. A lot has already been done: there is a financial platform, tools for choosing a property and real estate agent, digital mortgages, electronic recording of a transaction.

Now we bring all this together in one puzzle, so the customer can complete the transaction as quickly as possible and without unnecessary offline trips.

What are you thinking?

The preferential mortgage program, which makes it possible not only to get a loan for new buildings, but also to use funds for the construction and purchase of a private house, ends in Russia on July 1. Alexey Makarov, head of Tsian.Mortgage, told about what will change for mortgage borrowers after the cancellation of the collective program, what opportunities will remain for Russians.

Source: Gazeta


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