Mortgage lending, though not yet become a mass phenomenon, but a bit exotic it already does not record. According to the Central Bank from 2003 to 2005 the volume of mortgage loans increased 7.5 times, and for the first half of this year has doubled. Now he is 110-115 billion rubles. Despite the difficult situation in the property market, the banks noted a serious increase in mortgage portfolios. Market Leader - Savings Bank - the first six months of mortgage loans in excess of 1.5 billion rubles. Mortgage portfolio DeltaCredit exceeded $ 350 million, "Last year we were given credit for 112 million dollars, and for the first half of this year - 116 million" - said the vice president of business development bank DeltaCredit Alla Tsytovich. According to her, this year we expect more than doubled. And a similar pattern can be observed for most banks. Triple their mortgages issued this year, intends to Absolut Bank. According to the head of mortgage lending center Sergei Dankova Absolut Bank, the Bank has already provided more than 2.5 thousand loans totaling $ 170 million According to experts, mortgages in a vast field for development. "According to Moscow real estate companies, up to 10% of all transactions in the market of the capital property is through a mortgage. This is despite the crazy price increase ", - said Alla Tsytovich. According to her, this contributes to income growth. According to Sergei Dankova, increased mortgage interest is also related to the fact that banks are becoming more loyal to borrowers: most do not require formal confirmation of income, registration and citizenship. "Moreover, in recent years, mortgage rates dropped substantially - from 14-15 to 10-12% per annum, significantly decreased and the initial payment. Available at all programs with no down payment "- he explains. Appeared on the market and new proposals: floating rate and refinancing. "For lending to client needs not only to fulfill certain conditions, as the new creditor and the former, but also to calculate their costs: fees for the renewal of bank credit, and termination of registration of a new mortgage, fees for other banking transactions, and if the client while still procedure is based on early redemption - then pay a fee for early payment ", - says member of the board of City Mortgage Bank, the head of sales department Igor Zhigunov. According to him, to engage in refinancing makes sense if the loan was taken before 2004 and the difference in rates is not less than 3%. "The operations of the bank lending to may well be a way to increase the loan portfolio, but it is important to offer a working mechanism," - he adds. Another trend of the last year - increasing specialization. With the fall of 2005, began active development of the services of mortgage brokers. "The city launched the first systematic program to work with mortgage brokers, signing the fall of 2005 an agreement with them in several regions. Today the bank is working with a network of their mortgage brokers "- adds Igor Zhigunov. And expanding range of mortgage programs. More and more banks lend to purchase real estate not only in the secondary, but the primary market. Interesting program on housing loans in the primary market offers Absolut Bank. "In addition, this year the bank launched a" Mortgage no down payment "and began perekreditovyvat mortgage", - says Sergey Dankoff. "In today DeltaCredit most popular product - a 15-year loan with a fixed rate in dollars and 10-year-old ruble floating rate", - says Alla Tsytovich. According to Igor Zhigunova, amid rising real estate prices have been very profitable consumer loans secured by existing housing, so as to increase the value of mortgaged property increases and the maximum loan amount. "It is, in fact, became the new loan product that is appreciated by many customers," - he said. Event in the mortgage market began to securitization of mortgage portfolios held by two banks - VTB and City Mortgage. "Today, resources for over three years is not more than 6-7% of bank liabilities, - the" NG "Igor Zhigunov. - Securitization of mortgages allow you to attract long-term cheaper resources than, for example, targeted loans. " In international practice, such transactions are carried out for a long time. For example, last year the world through the instrument was issued securities worth more than $ 700 billion Upcoming securitization of mortgage portfolios has already announced the bank DeltaCredit. However, all transactions will result in a securitization to lower interest rates on loans - the question ambiguous. "It depends heavily on how well will the mortgage portfolio. What is it better, the cheaper money "- Alla Tsytovich clarified. According to experts, the mortgage market will continue to evolve as rapidly as in terms of technology, and volume. "By 2007 we can expect that the mortgage market will reach $ 4 billion by international experts, the capacity for it in 2010 could reach nearly 26 billion dollars, in turn, the Russian experts estimated the market volume to 50 billion dollars ", - the" NG "Igor Zhigunov. "In the next year or two we expect to surge mass of interest in lending programs, wait, that will be released to the market agents and, more importantly, sellers who are willing to work on transactions involving mortgage-money, - says Sergey Dankoff. - After a year and a half should make mortgage-backed securities market, there will be a variety of ways to work with mortgage obligations - a mortgage-backed securities, repurchase of debt, loans secured by mortgage pools and so on. " Experts predict DeltaCredit, continue lowering rates on mortgages, "We can predict the fall of interest rates by 1% per year - says Alla Tsytovich. - If you are in the market average dollar rate of 11% per annum, then we can expect that in the short term, about seven years, it is equal to the European rate of 5%. But then again, everything will depend on world market conditions. "
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