In late 2009 - early 2010 the situation in the mortgage market in Russia noticeably quickened. Decrease in prices for housing, as many Russians to some extent recovered from the financial crisis and has acquired a stable source of income. Given the positive trends in the autumn of 2009, the Agency for Housing Mortgage Lending (AHML), Ministry of Regional Development and other ministries have started to develop "long-term development strategy of residential mortgage lending in Russia." By the end of the draft document was published, but is parallel to the active work on the practical implementation of its provisions. Government anti-crisis measures aimed at restoring the overall financial system, special measures to assist borrowers who find themselves in a difficult financial situation, together with measures for the development of mortgage lending and a lot of preferential programs for certain categories of persons are intended to make mortgages affordable for at least 60% of the population our country. It is assumed that in the near future mortgages will be the main mechanism of acquisition of housing for "middle class", and mortgage payments will not exceed one third of income of borrowers. But in the future. What we have now? General trends in the mortgage in early 2010, Reducing interest rates. The planned reduction in the refinancing rate, conducted by the Central Bank since mid-2009, is a kind of mirror of the overall situation in the economy. Following the decline rate CBR and banks have begun to reduce mortgage rates. According to the "Development Strategy", the average rate on mortgages in 2011 will be 13%. Moreover, Prime Minister Vladimir Putin requires that this process is even faster - in its plans to lower the rate by the end of 2010 to 10-11%. Reduced down payment. In early March 2010, was amended in Article 3 of the Federal Law "On Mortgage Securities". The amendments allowed banks to reduce the initial payment fearlessly on the mortgage from 30% to 20%, which is what happened. Currently, 20% is a kind of standard for a down payment, some banks have gone even further, reducing this figure to 10-15% (and the Bank of "Soviet" in one of its programs and refused to do a down payment). However, the initial payment is below 20% is still a risk factor for the bank, which, of course, not to the best effect on the interest rate on such proposals. Development of the mortgage on the primary housing market. The state is interested in the development of construction industry, and this requires the involvement of additional investment. That's why most government programs in 2010 aimed at supporting the mortgage lending sector buildings. This first program is the refinancing of 250 billion rubles. Pursued by Vnesheconombank and HMLA. The program has already caused a number of critical comments from bankers, who, of course, much more interesting public refinancing of existing homes. In addition, active work on solving the problems of "defrauded real estate investors" and "protracted" as the level of legislation, and in the field of practical measures designed to reduce risks for banks and their clients relating to the acquisition of new housing and, as result - to make credit conditions much more friendly to the borrower. We should also mention the new program HMLA refinancing mortgage loans for the purchase of low-rise housing. A pilot version of the product will be tested in the Orenburg region in an area of residential low-rise residential complex. Low-rise building currently on active government support, at the beginning of March 2010 has been amended a number of federal laws aimed at ensuring the further development of the industry. In this regard, in the near future we should expect the appearance of the leading domestic banks specialized loan products in the "maloetazhki" standards-based HMLA. The development tools of restructuring. To assist borrowers who find themselves in difficult situations, the government developed a program of debt restructuring, implemented "the Agency for Restructuring of housing mortgage loans." In 2009, were given first stabilization loans, then the program repeatedly adjusted and became more "friendly" to the borrowers. At the end of 2009, introduced a program ARIZHK repeated restructuring, is the exchange of restructured mortgages in the bonds at a discount ARIZHK 20-25%, maturing in 2028 and in early 2010 expanded its offering to sell the agency banks for such loans are "living "money at face value, but with delay of about five years (which ultimately gives approximately the same discount). This measure has not caused much interest among banks, as not comparable with the yield from the sale of the collateral, however, after further "polishing" of the program can turn out quite ARIZHK tool. Development of refinancing. Reduced rates naturally encourages borrowers who have issued mortgages at higher interest rates, to finding ways to bring their monthly payments in line with new realities. Banks eagerly joined in the fight for customers by introducing their own tools of refinancing. A good example was a campaign of Alfa-Bank, a decrease of loan fees as part of refinancing up to 50% of normal and Gazprombank declared to refinance their own mortgages in order to bring them into line with current lending programs. Focusing on customer needs. Banks have begun to actively invest in projects designed to make the process of getting loans easy and affordable for borrowers. Thus, the "Savings Bank" started the conversion several dozen of his Moscow office in the "mortgage center", whose main task - to simplify the procedure for registration of a mortgage loan up to form a "single window". A similar approach Metcombank, who discovered a specialized mortgage office in a newly built area of Ekaterinburg. In general, similar centers acquired its most major Russian banks, and later their number will only grow. Prospects for a mortgage in 2010 So, what is waiting for a mortgage in 2010? "Development Strategy" focuses on the following results: the restoration of public confidence and credit institutions to the mortgage and as a result - increase in demand, lower interest rates, the emergence of a large variety of credit proposals and the overall development of housing. The demand for mortgages and when to grow, it is insignificant. According to analysts, must pass 1-1.5 years since the restoration of an acceptable level of income before the person wishes to obtain a mortgage loan. This is logical, since the financial crisis has demonstrated the majority of Russians that stability today does not mean stability tomorrow. Regarding the reduction of interest rates, experts agree that the figure of 13% at the end of the year looks absolutely real. At the same time a number of preferential programs is quite possible to achieve and "Putin" of 10-11%. Tendency to increase the number and variety of loan offers from banks are already evident and will gradually evolve with the industry itself. And is expected to "increase" in residential construction. By the end of 2009, Russia reached a level approximately 60 million square meters of housing per year, and by the end of 2010, this figure is likely to rise by another 1-2%. In general, the development of the mortgage will be closely linked with the overall growth of the Russian economy. Thus, the "engine of progress" in 2010 will clearly state activities. Most of the anti-crisis measures and tools to stimulate lending are used in our country for the first time, so the result will largely depend on how responsibly the power to suit their work and improvement. Mortgage in Russia is the recovery period, after which (2011-2012 gg.) We are promised "rapid growth". Will the country to achieve this goal - it will become clear in the very near future.
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