In 2008-2009 it seemed that the mortgage in Russia is dying, just being born. The number of loans has decreased dramatically. Terms of mortgage programs of most banks were defensive in nature, and the word "property" has been synonymous with high risks. But in the last six months the situation has changed. "Bank A renewed mortgage lending," "bank B reduced the rate of interest," "In the bank lowered the initial fee" - almost every day news ticker recorded the return of the mortgage. Although it should be noted that mortgage lending was revived in the main banks with state or government programs. Towards the borrower One of the main trends of the last six months - a steady decline in bank interest rates on mortgages. Some banks have managed during this time to "write-down" several times. Now even though rates have not reached pre-crisis level of 9-12%, but has already come close to them. Sberbank mortgage can take 10-14% per annum, with VTB24 - by 11-15%. The average value of loans to purchase housing on the secondary market for an initial payment of 20-30% and not less than 10 years at leading banks is about 12.5%. Recall that in the midst of a crisis to soaring rates of 17-35% barrage. Another sign of recovery of the mortgage market - reducing down payment on the loan. In the crisis period, the size reached 50-70%. Currently, nearly 20 banks willing to issue mortgages with down payment is less than 30% (Raiffeisen Bank, "DeltaCredit", Sberbank, VTB 24, Gazprombank, Nordea Bank, "Eurofinance" etc.). Before the crisis, the initial payment of 10% was not uncommon, it is now possible in exceptional cases. The banks put up or additional conditions that increase the cost of credit, or severely regulate the list of acquired properties. For example, Absolut Bank is ready to give credit for the purchase of an apartment with an initial contribution of 10%, but only if additional collateral real estate owned by the borrower or co-borrower. VTB24 provides housing loans at 10% initial payment only if the mandatory liability insurance for non-payment of the borrower's loan. Appeared on the market mortgage loans with floating rates. Commercial banks are tied to indexes floating rates LIBOR, EURIBOR, MosPrime, and state-owned banks - to the refinancing rate of the CBR. "These products allow you to finance the operations of mortgage lending with shorter resources, which, in turn, leads to a cheapening of the cost of credit to the public. In particular, the Nordea bank loans with floating rates in the first year of the agreement today on a one-two per cent cheaper than loans with a fixed rate "- the director of retail business Nordea Bank Vyacheslav Lyasevich. Mortgage significantly increased in volume. "For six months of 2010 was granted 107 000 mortgage loans for 133.4 billion rubles. For comparison, in 2009 it was granted mortgage loans to 152.5 billion rubles. According to forecasts AHML, at the end of the volume of mortgage loans will amount to 320-360 billion - this is 2.1-2.4 times higher than in 2009 ", - said director of retail operations Investtorgbank Svetlana Kroshkina. However, the full restoration of the mortgage market is still too early to say. Recall that in 2008 the volume of mortgage loans amounted to 655.8 billion rubles. Credit for the new building in the product lines of banks back loans for the purchase of housing under construction. One of the few who did not stop lending to the purchase of new buildings during the crisis, was Sberbank. Now these loans are already produces a number of banks. Thus the rate of new construction for a loan can be even lower than in lending transactions in the secondary market: 10%. Lending to new buildings, of course, far below pre-crisis levels. "Only about 10 percent of the total amount of mortgage loans issued for the purchase of apartments in new buildings. For the six months of 2010, the primary market provided 11 000 mortgage loans by 13.6 billion rubles. This is due to the fact that housing in the country, especially in the regions in a state of stagnation "- says Svetlana Kroshkina. At the suburban market mortgage returns less active. Banks offering the program for the acquisition of suburban housing, smaller, and the requirements for new buildings is much tougher. The main difference in the amount of down payment: it is 40-50%. Interest rates on loans for apartments and country houses, many banks equal. But interest rates on loans for land acquisition may reach 16-18% per annum for an initial payment 30%. No commission in April occurred in the mortgage market mini-revolution: Savings announced the cancellation of all commissions and fees for additional lending. At the same time it lowered and interest rates - at 1-1.5%. For the first time on the Russian mortgage market rate on the loan was the only parameter that determines the cost of borrowing for the client. Following the Savings Bank of the decision to cancel or reduce the commissions received, and some other banks. Thus, the Agricultural Bank canceled the fee for application review and one-time payment for loans. VTB24 now takes no commission for lending under the program "Mortgage with state support." Raiffeisen Bank has reduced the loan fees for any purpose on the security of existing apartments to 1.5% of the loan amount and loan fees for the purchase of real estate in the secondary market - up to 1%. However, there is a reverse trend: for example, banks' DeltaCredit "and" ZhilFinans "offer borrowers pay a higher commission to reduce the interest rate. For example, in "Delta Credit" interest rate is reduced by 0.5% if the borrower is willing to pay for loans instead of 1.5% of the loan fee of 3%. Part of the bankers convinced that the Commission may cancel only the banks with state participation, but for normal commercial bank in the current environment it is impossible. State mortgage recovery mortgage against a background of strengthening the state's role in this market. The share of Sberbank and VTB 24 is now up to 80% of the mortgage market, while three years ago this share was almost halved. The State sought and money to fund mortgages to VEB to use the government appointed the Pension Fund and National Welfare Fund. VEB will buy mortgage bonds backed by loans that are issued at a rate of no more than 11% per annum with an initial payment of 20%. Total VEB to refinance allocated 150 billion rubles. To participate in the program have filed seven banks - Sberbank, Gazprombank, "Uralsib" and Khanty-Mansiysk Bank, VTB 24 and BZHF. The government plans to actively support the mortgage market until at least 2015. This is evidenced in the summer approved the "Strategy of development of mortgage lending in Russia until 2030", which describes the main tasks of the state in the transformation of the mortgage market and how to implement them. This program puts the targets by 2030 mortgages will be available 60% of Russian families. The task of the first phase of the strategy (2009-2011) - the restoration of the mortgage market after the crisis. The share of households that will be available mortgages will reach 19% (now 16.6% of families), the average rate on the loan to fall to 13%. The share of mortgage transactions in the housing market will reach 20% before the crisis. In the second phase (2012-2020 years) the mortgage will be available 50% of families and the weighted average lending rate will drop to the level of inflation plus 2-3%. Half of all loans will fund through the issuance of mortgage-backed securities. To avoid problems with defrauded real estate investors, it is expected that people will get loans to buy new construction only in the final stages of construction. By the end of the third phase for 60% of households should be able to purchase a house in the property by the mortgage. The average mortgage term of 25 years. The initial contribution will vary between 20-30% of the price, and if the mortgage insurance - 10%. In case of failure to fulfill obligations under the State must guarantee the loan so the borrower to obtain social housing for rent or for rent housing support to market conditions. Market experts have different opinions state program, but, perhaps, agree on one thing: the interest rate on the loan at a rate of 6%, of which the Government has dreamed a year ago, does not seem real, even in the distant future. "Interest is the cost of lending money to the bank and the bank assess the possible risks of loan defaults. Given that banks now have no access to long-cheap money, they can not cut lending rates. His contribution is made, and inflation. And the risks of default mortgages until banks are assessed as quite high due to the unstable economic situation ", - says head of marketing and PR company" Pioneer-Moscow ", Irina Romanova. The scenario of state involvement in the mortgage market in 2010-2012, registered in sufficient detail. At this stage, the market will be poured around 450 billion rubles. 250 billion rubles will go through Vnesheconombank investments in bonds with pension coverage and bonds AHML. To this is added 80 billion rubles of the HMLA under the state guarantees (36 billion - unused guarantees in 2009, 44 billion - the guarantee of 2010). In 2011-2012 HMLA expects another 56 billion and 66 billion of new guarantees. These are serious amount of heat is strong enough even with a weak market conditions. Thus, according to government plans, stuffing public money on the mortgage market will gradually decline and by 2015 will be fully lifted.
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