Mortgage broker and real estate expert Dmitry Rakuta warned that in the near future housing loans will become even more inaccessible for Russians and the mortgage market will shrink significantly. A mortgage that will become a “luxury item” will be rejected much more often, stated He is in conversation with 360 TV channel.
“This year will be the year of expensive mortgages anyway. It will be hard to get approved, it will be hard to get. A mortgage will be considered a luxury not only in terms of obtaining but also in terms of approval. The expert thinks there will be significantly more mortgage denials.
Formerly to the State Duma contributed A bill regarding the right of the Central Bank to limit the issuance of mortgages. Rakuta believes that if the law is passed, the regulator will randomly inspect credit institutions and impose targeted sanctions.
“If the Central Bank sees that a particular bank has a large number of mortgage applications and they do not proceed in accordance with the methodology, then it will impose some kind of sanctions,” the expert said.
The broker emphasized that giving new powers to the regulator would in any case be a measure to tighten mortgages. The Central Bank announced the high debt burden of Russians in 2020 and warned that the burden on debtors was too much.
In addition to the new restrictions, the program for new buildings will expire in July – according to the expert, it will not be extended, so the requirements for borrowers will become even stricter.
Let us remind you of the draft law on the Central Bank’s right to limit the granting of mortgages and loans to citizens in order to reduce the debt burden. contributed Senators and deputies led by Anatoly Aksakov, chairman of the Duma Financial Market Committee. If the document is approved, from June 1 the Bank of Russia will be able to impose macroprudential limits on mortgage lending.
MPs before in the name Consider consumers on preferential mortgage issues.
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Source: Gazeta
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