Alarm with state support: why banks are forced to tighten conditions for family mortgages Russian banks do not have sufficient limits to issue family mortgages 12:52

Russian President Vladimir Putin has extended the family mortgage program until 2030. It has proven itself and helped many families across the country buy new homes. Following the completion of another preferential program on July 1 this year, mortgages for families with children are considered the most popular.

RBC-Real Estate reported that recently Dom.RF completed the redistribution of family mortgage limits in the amount of 140 billion rubles. “The volume of the limit, which participants may not have used by the end of this year, was transferred to creditors who applied to increase the limit,” general director Svetlana Nekrasova said in the release.

Later, Rossiyskaya Gazeta reminded that the total limit of the program was 5.9 trillion rubles. According to DOM.RF, loans worth 5.54 trillion were granted as of October 3.

But this is what we call it, but in practice we see that the limits are not enough even for a few months. Banks have nowhere to go to avoid incurring losses and shifting them to other customers. Developers, on the other hand, are sounding the alarm and recalling the requirements of the national project to build at least 120 million square meters per year, not to mention the fact that the current situation with the lack of financing for the program can negatively affect sales. .

Today, Sberbank announced that it continues to accept applications for the Family Mortgage program in Domklik without interruption, but as of October 30, it has temporarily suspended registration of transactions due to the exhaustion of the limit allocated by the government. Credits will be issued as usual to customers who signed an agreement before October 30.

The bank will continue registration for transactions under the Family Mortgage program immediately after the allocation of the additional state limit. The new conditions announced by the bank will apply to new applications. From October 30, due to the increase in rates on basic mortgage programs from October 22, Sber is increasing family mortgage rates on loans where the amount exceeds the limit provided by the program.

The rate will remain at 6% in agreements regarding the loan amount up to the limit determined by the government of the Russian Federation. When applying for a “Family Mortgage” with an excess of cash limit, Moscow, Moscow region, St. Petersburg for a loan of 12.5 million rubles. For St. Petersburg and the Leningrad region, the minimum weighted average rate in Domklik will be 9.4%. For other regions with a loan amount over 6.5 million – 10%.

At the same time, market interest rates continue to rise. Let us recall that at its meeting on October 25, the Board of Directors of the Bank of Russia decided to increase the key rate by 2 points at a time, from 19% to 21% annually. Here we can say that the bank does not exclude the continuation of “tradition”. Thus, the regulator curbs inflation. This has a negative impact on the lending and home construction market, as the cost of loans has increased significantly.

Mortgage rates on the market have already reached double digits, rising above 25%. And although now is the time to invest in deposits, since interest rates are rising rapidly, it is unlikely that anyone will save money to buy tens of thousands of rubles when the decision has already been made about the need to rent an apartment. Here those who are in order with their square meters are lucky, and the same 20% free money can be safely taken to the bank for interest. But when there is an urgent need to buy a house, there is no time to save.