The largest Russian banks have seen a sharp increase in portfolio of mortgage loans for suburban housing, more than 60% in the first half. Mode isolation made those who had rented cottages or cottages to think about their purchase. To make this trend sustainable help rather reduced mortgage rates, making loans available to a wider range of customers. However, not all banks are willing to lend to customers secured illiquid assets, and additional costs for such properties restrict the potential demand.Sberbank for the first half of 2020 for the purchase of suburban real estate has issued more than 6 thousand loans on more than RUB 11 billion Is higher than last year to 61.6 per cent in the number of loans and 61.3% by volume. VTB in the first six months the volume of mortgage transactions in the purchase of private homes has increased by 61% (to 7.2 billion rubles), and the number is 46% (over 2.2 million objects). Mode of self-isolation associated with the pandemic COVID-19, led to changing attitudes towards country real estate, particularly in the mass segment, the number of transactions for the purchase has grown three times (see “Kommersant” on 29 July). As pointed out by managing Director for working with wealthy clients BCS Andrey Revenko, “people who had previously rented a country house or just did not think about this purchase, decided on such an acquisition, including with the assistance of a mortgage”. According to the survey “House.Russia”, held in June, private residential home to 39% of respondents has become the preferred type of housing. While 6% is more preferable was the apartment.The increasing demand for loans associated with a reduction in mortgage rates. According to Central Bank data, the year rate fell from 10.3% to 7.5% per annum. Countryside mortgage on the background of mortgage rates in the primary market of housing has always been expensive, and now the spread has dropped to 1-3 percentage points. So, Sberbank provides loans to a country house at the rate of 8% per annum, and for construction a country house from 8,8% in VTB interest rate of 8.5% per annum. According to Andrey Revenko, the correction value of the mortgage loans for rural property has made them “much more accessible than previously.”For some buyers prefer to take a consumer loan (see “Kommersant” on July 30). According to associate Director on Bank ratings “Expert RA” Catherine Soriginal, country mortgages really can do only the largest banks because they have more competencies in risk assessment. “Other banks are not very willing to give a mortgage, as in the case of default to sell the collateral will be more difficult than an apartment,” says she. The interlocutor of “Kommersant” in one of the banks explains the passivity of the credit organizations the fact that “the earth is very unreliable collateral and the liquidity of such objects is markedly lower than the HF��rtir”.According to “the House.Of the Russian Federation” in July of the 15 largest banks engaged in mortgage lending, only ten declared the issuance of mortgage loans for the purchase of ready houses. With an initial contribution of such credits reaches 30-40% of the cost of housing, which reduces potential demand. Respondents ‘ b ‘ banks belonging to the leaders in mortgage lending, a large interest in suburban real estate is not shown. So, in “ROSBANK House” reported that the share of loans provided to private housing, small. In other banks data are not disclosed.In the first seven months, the growth was 62%, and the volume of loans issued by the Bank exceeded RUB 8 billion. However, not all are optimistic. Catherine Shurigina believes growth is temporary. From the point of view of the cost of maintaining rural property, as a rule, more expensive apartment, she explains, respectively, in the conditions of decrease in incomes of the population long-term trend is still unlikely.Maxim Bulovic banks and borrowers adjust to difficult premenarcheal next
