Opinions of experts on how to take out a mortgage in 2020
Last year, the Russian authorities were seriously considering reducing mortgage rates to 6%, which pleased thousands of families for whom the mortgage is the only real option to get their own home. However, in January 2020, the head of the Ministry of Construction Vladimir Yakushev said that there is nowhere else to reduce the interest rate on mortgages. At the same time, the head of Sberbank German Gref forecasts stabilization of inflation in the second half of 2020, after which it will be possible to reduce the rate. Other experts in the material “RBC” told how to take a mortgage in 2020 and what tools to use to reduce the amount of payments.
How to get a mortgage in 2020 and not stay with an empty wallet
The head of Rusipoteka Company, Sergey Gordeiko, is convinced that in 2020 the number of issued mortgage loans will not fall. He expects the same figures as last year, and under certain conditions in Russia may issue mortgages by 10% more – up to 3.3 trillion rubles.
Rates began to rise in the summer of 2018, and Sergei predicts that they will stop in April-May 2020. In addition, he expects different financial institutions to introduce a variety of promotions to attract customers, resulting in mortgage loans at both 10 and 12 percent per annum. According to Gordeiko, the average rate in 2020 will be 10%.
Another expert, Tatiana Saksontseva from Miel Network of Real Estate Offices, is convinced that the interest rate on mortgages in Sberbank in 2020 will depend only on the volume of the bank’s loan portfolio. It was more than once the first financial institution in the country, which reduced rates on mortgages, and if citizens are scared off current offers and they stop so actively formalizing the mortgage, Sberbank can make concessions. Considering the new rules, the cost of construction will increase, which means that the price of housing will also rise. Both the cost of the property itself and the interest rate will increase, which may lead to lower sales. Therefore, the idea is that mortgage values should go down a bit to get back to the balance and attract more credit consumers.
Sergei Shloma from Inkom Real Estate agrees that we are unlikely to see a mortgage boom in 2020. The solvency of most of the country’s population leaves much to be desired, real incomes are getting lower and the mortgage is still the only option to get your own real estate. Therefore, the more expensive the mortgage, the less such transactions will be in the future. Sergei hopes that the rates will remain the same, although at the same time, real estate experts are ready to raise. The scenario of reduction seems almost unrealistic – this requires stabilization of both the political and economic spheres, which is unlikely to happen in the near future.
