By mid-2010 interest rates on loans in the Russian mortgage market returned to pre-crisis, and sometimes even at a lower level. The cost of loans to purchase housing on the secondary market for an initial payment of 20 - 30% for at least 10 years, major banks is about 12.5 - 14% per annum. Variable rates are lower than before the crisis, since the values LIBOR, EURIBOR, MosPrime and refinancing of the Central Bank, to which they are attached, are kept at very low values. At historic lows keeps the refinancing rate AHML, which serves as a benchmark for its partners, to set interest rates on credit products, the Agency. Interestingly, rates on loans for apartments and holiday homes in some of the banks equaled, even in the "fat" years, loans for more expensive houses on 1 - 2%. The same rate on loans for the purchase of apartments and country houses set up the Bank of Moscow, Barclays Bank VTB 24, Banca Intesa, KreditEvropa Bank, Nordea Bank, the Bank "Russia", Russian Agricultural Bank, Sberbank, Svyaz-Bank, the bank "Uralsib". The interest rate is currently determined by four key factors: currency loan, the size of down payment, a form of confirmation of the borrower's income and the loan term. Among the banks absolute harmony reigns in one - domestic money is more expensive than foreign ones, the lower the down payment and long term loan - the higher the interest rate on the loan. The average difference of 0.5% to 2%. To the lucky owners of "white income" credit rate by 1 - 1.5 percentage points lower than for the "gray" borrowers. However, some banks lack information on the form of 2-PIT will cost the borrower much more expensive: in Rosbank in this case, interest rate increases by 6.5 percentage points (!) In Nordea Bank - 5 percentage points. According to analysts Rusipoteki, it is likely that next year the radical relative to the "gray" income banks soften their attitudes and reduce the difference between the interest rate for customers with legitimate income and the recipients of "envelope" salaries. The fact is that since 2011 the total amount of the tariff premium increases from 26 to 34%, which, no doubt, will povalny transfer of employees for wages "in envelopes". Accordingly, the majority of borrowers will not be able to confirm the actual level of their incomes Certificate 2-PIT. So in a highly competitive mortgage for a borrower for the guardians of the "white income" may take into account the changed realities and lower rates for "retired into the shadows." The first swallow can be considered as announced October 28 AMT Bank reduced interest rates on mortgages by 0.5 per cent for borrowers who confirmed the basic income certificate in the form of bank. Interest rates on loans for housing during the construction phase until the moment of state registration of property rights, as before, approximately 1 - 2% higher than for the purchase of finished housing. In this regard, the policy banks to establish rates crisis has not affected. The Federal Law of 15.02.2010 № 11-FZ "On Amendments to Article 29 of the Federal Law" On Banks and Banking Activity "forbidden to make the loan agreement provisions which give the right to unilaterally change the value and the procedure for determining the interest rate, amount of commission fees or introduce new commission, as well as duration of the contract. Changes of this kind can now be entered only by agreement with the client by entering into a complement to the loan agreement. It is believed that this change in legislation will trigger higher interest rates on loans, as Russian banks from funds the needs of the "long" mortgage loans primarily due to "short" of money. In this situation the bank is important to be able to lead to a common value of issued and borrowed money. The ban on raising interest rates on the loan is fraught with losses in the event of a sharp rise in funding costs as a result of the crisis. And for such period as the 10 - 20 years, crises arise inevitably. However, in practice, I think, will play into the hands of the borrowers are characteristic for the bankers in general, and domestic, in particular, a short memory and habit of living one day. Given these circumstances, the Analytical Centre Rusipoteki considers it unlikely the massive increase in interest rates on mortgage loans in connection with the ban does not review rates unilaterally. Now flaring up competition for the survivors of the crisis potential mortgage borrowers, and in light of this increase in rates for banks would be quite unlikely. At the same time, we can assume that the ban will help to further the spread of floating interest rates. Evidence of this is made by the leadership of the Savings Bank announcement about the planned introduction of floating rates on all loan products. The refinancing rate AHML important event of the mortgage market in 2009 could be called a significant reduction in the refinancing rate AHML from which repel its partners - the banks when issuing loans. Tied to the refinancing rate of the Central Bank of Russia, the minimum interest rate refinancing loans to the standards AHML June 1, 2010 amounted to 9.28% per annum against 13.05% on January 1, 2009. The first time in history of HMLA refinancing rate dropped below 10% October 30, 2009. Reduced prices for the purchase of loans was so rapid that in December 2009, HMLA was forced to declare its intention to "decouple" its refinancing rate on the refinancing rate of the Central Bank. Now it is calculated taking into account the cost of borrowed funds for the agency, so the rate of decline lagged behind the rate of decline CBR refinancing rate. Although banks - partners HMLA have the right to raise the value of interest rates on loans in its sole discretion, some of them extending loans to exactly or very close to the rate established by the agency, such as banks' Eurotrust "and" Globex "Investtrastbank (ITB), Mosstroieconombank The bank "Discovery." Overview mortgage rates if the property in mortgage banking software, designed for the mass market by the end of October 2010 the cheapest loans in rubles for the purchase of flats in the secondary market at fixed rates offer Svyaz-Bank (9.5 - 12 5% per annum for a period of 3 to 30 years), Absolut Bank (11 - 18% per annum for a period of 5 to 25 years), HSBS (11 - 22.5% per annum for a period of 1 to 15 years), Societe Generale Bank East (11 - 23.5% per annum for a period of 5 to 25 years), Nordea Bank (11.5 - 13.5% APR for up to 30 years), Sberbank (11.65 - 14.75% for the period from 10 to 30 years), Investtorgbank (11.9 - 16.7% per annum for a period of 3 to 30 years), Unicredit Bank (12 - 13% per annum for a period of 5 to 30 years), the Bank "Russia" (12 - 13.5% per annum for a period of 3 to 15 years). Despite a slight increase in rates refinance HMLA the standard program loan buyers of apartments in the secondary market, they remain among the lowest in the market (from 11.5 to 13.2% APR for up to 30 years). However, not all partners HMLA make loans to refinance rates, most of the regional banks exercises its right to increase the rate by 1 - 1.5 percentage points. The cheapest mortgage loans in foreign currency (U.S. dollars and euros) for the purchase of finished housing offer BSGV (8 - 21% per annum for a period of 5 to 25 years), the bank "DeltaCredit" (9 - 11% per annum for a period of 7 - 25 years ), Nordea Bank (9 - 11% per annum for a period of not more than 30 years), Rosbank (9 - 16.5% APR for up to 25 years), VTB 24 (9.1 - 12.1% per annum for a period of 7 up to 50 years). Among the banks that lend the purchase of apartments in the primary market the most affordable rates for the period of construction, before registration of property rights to acquire housing, offer Sberbank (11.65 - 14% per annum in rubles and 11.7 - 13.7 % per annum in foreign currency), Svyaz-Bank (12 - 12.5% per annum in rubles), Gazprombank (13% in rubles and from 12.5% in foreign currency), bank "DeltaCredit" (14.75 - 16.75% per annum in rubles and 13 - 11% per annum in foreign currency), floating rate floating rate before the crisis on the Russian mortgage market has been extremely rare. Of the major banks offer only its "daughters" of foreign banks - Swedbank, the bank "DeltaCredit" Raiffeisen Bank, OTP Bank. Today, floating rate mortgage is becoming increasingly popular, despite the obvious risks for borrowers: floating rate as the change could lead to insolvency in the event of an abrupt change in economic conditions, demonstrated the mortgage crisis in the U.S. and Europe. For example, according to a VTB 24, in St. Petersburg, the percentage of mortgage loans with a floating rate of the total amount of housing loans issued by banks account for about 20%. Commercial banks are tied to floating rates of interbank lending rates markets - LIBOR, EURIBOR, MosPrime. Government - Sberbank, VTB 24, HMLA - prefer to be on the refinancing rate of the Central Bank. More common "binding" of floating rates for the London Interbank Offered Rate LIBOR, the European Interbank Offered Rate EURIBOR rate and indicative of the Russian ruble loans provide money market in the Moscow MosPrime. Proper credit programs for housing with floating rate offer 13 major banks: Bank of AMT (ex-BTA), "BNP Paribas" banks "Zhilfinans" and "Delta Credit," VTB 24, Banca Intesa, "Moscow Mortgage Agency "(MIA), Nordea Bank, OTP Bank, Swedbank, Fora-Bank and UniCredit Bank. Partner network HMLA actively spreading the proposal of a new loan product Agency - "Variable Rate". Individual credit margin which is added to the base variable rates - the refinancing rate of the Central Bank, vary depending on the loan. Rate is reviewed once a year, and there are upper and lower limit - not less than 5 and not more than 20% per annum. However, in this field and there are losses - in July the bank "Revival" refused to use a floating rate mortgage, which is perhaps the most original version of all existing, being tied to the value of the currency basket of the Central Bank. Consequence of the crisis was the emergence of a hybrid, or combination fixed-floating rate. Such programs for several years to a fixed rate, and then begins to act is floating. Fixed for an initial period rate for the combined programs are usually slightly lower than in sentences with a fixed rate. For most developed countries is characterized by the dominance of floating rates, as it allows banks to minimize the risk of fluctuations in market value of financial resources for refinancing loans. To Russian banks is doubly important, because they have a permanent shortage of "long money" to fund the mortgage operations, and therefore are forced to refinance the mortgage at the expense of short-term borrowings, which may unexpectedly sharp jump in price. Floating rate borrower attracted by the fact that the favorable economic situation, its value is considerably lower than the average fixed interest rate that incorporates the risks of market value fluctuations in resources. Normal 0 false false false RU X-NONE X-NONE MicrosoftInternetExplorer4 Analytical Center Rusipoteki
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