The mortgage market in Russia comes to life faster than a building. Itar-Tass correspondent decided to ask the participants in the mortgage market, as they assess the results of the year and see what the prospects for next year. This year has ceased to be a year of desperate struggle for mortgage customers. This is the result of operation of JSC "Agency for Housing Mortgage Lending" (HMLA) as a development institution and banks. It seems that the customers, leaving two years ago, his desire to buy a home, we decided that the housing problem must be addressed if necessary. Analysts HMLA recognize that the slow recovery of the construction sector - indeed a very important factor. The construction sector suffered the most during the crisis, as completely dependent on the state of domestic demand. Despite some positive signals (growth of industrial construction, renewal of credit builder ", the total new housing in the country in the first three quarters of 2010 amounted to 33 million square meters. M of housing, or 5.5 percent less than the same period in 2009, and construction investment today will yield a 'return' in the form of houses built not earlier than 2-3 years. HMLA before back in 2009, was tasked with the development of the primary market, and in 2010 the agency began working on in order to increase lending to new buildings and create demand for mortgage loans issued for purchase of apartments in newly built or constructed housing. This year's proposed market HMLA new program called "New" at which mortgage rates - between 11% and below, and thus provides an additional deduction of interest rates for certain categories of borrowers. The following year the program will continue. On the other hand, EBV has opened for a credit line for HMLA 40 billion rubles. for a program to encourage lending to property developers "Stimulus", which the agency is trying to actively involve the banks in lending to construction. The program has involved 36 leading banks, sold 75 housing projects. The following year, the program will be changed, which aim to create a market mechanism ordering the construction of new housing economy class. Positive market processes and bankers say. Thus, according to Director of Retail Lending Savings Bank of Russia Natalia Karaseva, month by month the number of housing loans issued in the bank is growing at about 9-10%. During 10 months of 2010, issued 177 thousand loans totaling 160 billion rubles., which is 2.1 times more than 10 months of 2009, "In November we were given for 26 thousand home loans, and the beginning of December portfolio of housing loans in the Savings Bank amounted to 583 billion rubles." - she added. According to the Vice-President, Head of Development credit products and affiliate programs VTB24 George Ter-Aristokesyants for 11 months of 2010, VTB 24 mortgage loans totaling more than 26 billion rubles. that more than 2.2 times the size of the bank issuing the mortgage for the entire 2009 expected volume mortgage loans in 2010 as a whole - 31 billion rubles. that more than 2.6 times higher than the amount granted in the 2009 mortgages. According to preliminary estimates KB "MSA" 2010 will provide individuals More than 3 thousand mortgage loans, while loan portfolio increased by 1.5 billion rubles., said adviser chairman CB "MIA" for public relations Jaroslav Romanov. He added that the average loan size in 2010 compared to 2009 was virtually unchanged at $ 3.5 million rubles. loan on market conditions and about 350 thousand rubles. for social mortgage. Sberbank seeing an increase in average loan size is 100 thousand rubles. compared to last year (in 2010 - 950 thousand rubles).. In VTB24 average loan size in 2009 was about 1.25 million rubles., in 2010 - about 1.6 million rubles. Compared with 2009, the average rate on mortgage loans in 2010, VTB-24 decreased by about 3.5% per annum, and currently rates on the mortgage bank has already reached crisis level. VTB24 for 2010 three times to lower interest rates for mortgage loans on its own mortgage programs. Including 8 November 2010 there was a significant reduction in interest rates on all mortgage programs at the 0.6 - 1.95% per annum, and in the Moscow region, but this has started Promotion "With new home!" in which interest rates are further reduced by another 1 % per annum and the loan can be obtained without commissions. Sberbank of Russia at the beginning of the year the first on the Russian market, quashed all the charges on the loan while reducing interest rates on housing programs, was also reduced in size strip down payment. In addition, for 2010 in the bank three times already decreased interest rates on housing loans. The minimum bet in rubles is now 9.5% per annum. In 2010, CB "MIA" set to 9.5% annual rate in rubles on social mortgage. The loans purchase of flats in the secondary market rate was reduced by 3.5% to 12% per annum in rubles. In cooperation with VTB 24 Vnesheconombank (VEB) in June 2010 on the market, made a presentation "Mortgage with state support," in which there is a single interest rate for all borrowers - regardless of the duration of the loan, down payment and other terms of credit - 11% (13% per annum during the construction period). Since EBV is a program with JSB "GPB-Mortgage", the minimum rate at which amounts to 11 % (loan to purchase housing on the secondary market.) rate for housing in the secondary market program, the bank is 12%. Compared with the end of 2009 the minimum interest rate decreased by 2.25% from 13.25 to 11%. In average rates decreased by 1-2%. "Despite the fact that the range is quite wide programs, the borrowers are interested in ruble loans with a fixed rate. currency loans to date issued no more than 8-10% of all" - summed up the general director of "Miel Brokerage "Alex Shlenov. The downside of mortgage loans is overdue, which is formed as a result of failure to pay on the loan customer. If in the first year of the crisis it was a mass phenomenon in connection with a reduction in income, or dismissal, but now the pace and scope of" delay " are reduced. However, the problem will not go away. Interestingly, in contrast to Western borrowers who can stop paying for 5-7 year payout, the majority of Russian banks' customers no longer pay the first year. This suggests that a client has improperly calculated their potential. To reduce these risks in HMLA established insurance company AHML. The main activity of CK is AHML reinsurance Russian insurance companies related to the obligations of the borrower. HMLA SC has provided 400 contracts. Since the active work of the company was started only In August 2010, the volume of reinsurance can be considered as long as modest. The volume of reinsurance premiums on the basis of the 3rd quarter amounted to 2 million rubles. But as reported by CEO Nina Smirnova at the conference organized by the Itar-Tass, the end of the volume increase by a factor of 2 to 4 million rubles. According to Jaroslav Romanov, next year the CB "MIA" will continue to develop cooperation with AHML, including through the establishment of loan products, which will provide insurance against financial risks the borrower. As noted by George Ter-Aristokesyants, liability insurance borrower for non-performance or improper performance of obligations to repay the loan VTB24 provided only upon receipt of a mortgage loan with an initial contribution of at least a standard that is less than 20 percent / at least 10 percent / at buying a home in the secondary market. 'liability insurance provides the borrower. "This program is an independent practical step VTB24 Government initiatives to create in our country's system of insurance against the risk of default of mortgage loans to increase the availability of mortgage lending. Since the inception of the program issued more than 300 loans totaling more than 570 million rubles' , he said. Speaking of the prospects for next year, it should be noted that the Institute for Development - HMLA banks and suggest a positive trend of development of the mortgage market. In 2011 HMLA analysts do not expect significant growth in housing prices. In this regard, it is too early to say and the restoration of the volume of issuance of the mortgage in real prices / inflation-adjusted / pre-crisis levels. To attract borrowers, banks can lower interest rates on mortgage loans, but is unlikely to descend significantly below the level achieved this year. So, in October, according to CB Russian average rate for Ruble loans issuance for the month fell below pre-crisis and was 12.7 percent. However, the requirements for borrowers will be generally tougher than before the crisis, as during the crisis, the quality of bank portfolios deteriorated significantly and their risk decreased appetite. In general, the agency expects that by the end of 2011 will be issued order of 540-580 billion rubles of mortgage loans. According to the forecast Vice President VTB24 G.Ter-Aristokesyantsa, the pre-crisis levels of issuance of the mortgage at a favorable developments, the market may back in 2012 to positive predictions come true on your mortgage, it would be good to build and incomes also grew proportionately, or mortgage and will remain a "toy" for a very small stratum of Russian citizens.
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