Starting from October 11, VTB and Sber canceled the commission that bank partner developers receive when issuing market mortgages. This was reported by TASS.
This happened against the background of the decision of the Central Bank of the Russian Federation, which announced that it will not limit the full cost of mortgage lending for banks until March 31, 2025.
“Sber continues operations in Domklik for the purchase of new buildings (ready-made housing or housing under construction) at base rates, without the need for developers to implement mandatory interest rate reduction programs such as interest subsidies,” Sber said in a statement.
Bank of Russia canceled On October 10, a limit will be placed on the full cost of a mortgage loan. The Central Bank explained that we are talking about consumer mortgage loans for the purchase of housing or land.
As the Central Bank noted, such a decision will allow banks to take into account the latest changes in the situation with mortgage rates, including those related to the key rate decision.
Analysts on Thursday, October 10 guess a sharp decline in mortgage issuance at the end of the year. According to them, in the near future the target audience of concessional mortgages will narrow further – loans will be given primarily based on actual needs, while the share of borrowers for investment purposes will decrease.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.