Credit for housing has fallen in price

04.04.2013 00:00
Articles about real estate |  Credit for housing has fallen in price Take the credit for habitation can now be a bit cheaper. So, according to the company «Prostobank Consulting», the average real interest rate on credits for purchase of housing on the secondary market for the term of 10 years was 22,06% per annum.
For comparison, in February it was 22.36per%. That is, in the last month loans decreased by 0.3%. More significantly reduced rates on loans for the purchase of the units. It is 1.5%, and now the average rate on such credits for a term of 10 years - 21,78%.

«The reduction of rates on mortgage lending programs was primarily due to a General decline in the value of credit resources in the country, " explains Boris Sharipov, head of Department of development and sale of products of «Bank national credit». - With the beginning of the year the banks were actively involved in the process of reduction of return of investments. Today this work has begun to produce results in the form of reduction of value of the loans. In turn, that became possible due to the reduction in devaluation expectations of the society. People started to actively invest their money in banks, even if at a lower yield. So, from January to February, the Deposit portfolio of individuals increased by 15 billion UAH and reached 384,7 billion. Also to decrease the value of mortgage loans influenced the decrease in the refinancing rate of the State mortgage institution (SMI) from 18 to 15.3% per annum.

Related article: Rate mortgage loans for «affordable housing» will be 14% per annum

This allowed banks, cooperating with the state mortgage institution, to issue loans are not under 21,2-21,8% per annum, and with rates of 2.7% lower, that is, under 18,5 of 19.1%.

However, according to Denis Rakovski, sales Director of the company «КредитМаркет», a decrease in rates of crediting banks-partners SMI significant impact on the overall picture on the mortgage does not have. «The share of credits granted by the Bank with the support of the state mortgage institution, while small, " says the expert. - For example, for the year 2012 all banks issued about 4 billion UAH of new loans. Through the state mortgage institution, according to its own information, for the year 2012 financed 1231 loans for 293,4 mln UAH».

Another shift in the mortgage lending - is gradually increasing the number of banks issuing such loans. Thus, according to the «Prostobank Consulting», the number of banks among the top 50 in terms of assets, which offer loans for the purchase of real estate at the secondary market as well as in February, in March-2013 again grew at a single institution. For the last month on this market came out of «VTB Bank», being a 26-m Bank from the largest crediting on the «secondary housing». As for lending to the «units», here in March arrived 2 newcomer among the largest. The Bank «Kyivska Rus ' » and «Pivdenniy». Total, in today's issue loans for the purchase of a primary residence of the 20 largest banks of Ukraine.

As for the other lending conditions, then, according to Andrei awl, Director of the Department of retail business of PJSC «Bank «Kyivska Rus», now to actually get a loan on such terms: the initial payment shall be not less than 20% for a standard mortgage program, and 25% - for the programme SMI; the monthly income of a family in 2 times exceed the monthly payment on the loan; crediting term - 20 years for a standard mortgage program and 30 years for the program SMI.

All the interviewed experts say that if the borrower meets all the requirements for the mortgage - it's not a myth, but a reality. «Portrait of the ideal customer is as follows. A family is young, with savings of 25% of the value of the apartment) the official income of 9 thousand UAH», - says Boris Sharipov. As we can see, mortgage, despite all the positive trends, continues to «bite».

All of the interviewed experts are of the opinion that the interest rates on the mortgage loans will continue its course on the decline. And it is connected first of all with the plans of the banks and further reduce the rates on hryvnia deposits. «In the near future mortgage rates may drop by 2-3%», - considers Dmitry Gavrikov, head of Department of retail sales of JSC «Erste Bank». «I think, until the end of the 2nd quarter of 2013-th possible reduction of rates on mortgage loans even by 0.5-1.5%», - comments Andrey awl. The basis of these projections, the credit for purchase of the units for 10 years can be brought under an 18.8 20.3 percent. And the credit for «secondary housing» under 19-21,6%. «Ceiling» for the decrease in mortgage lending rates Boris Sharipov, a figure of 18%. «And here are the rates of banks-partners of the SMI in the nearest half a year can fall up to 13-14%», -the expert considers.

As regards the requirements to the borrower, then they are, in the opinion of experts, is unlikely weak. However, it is in their interest: it is more profitable to take a cautious decision and then calmly to pay the mortgage, than take impossibly high liabilities.

Tokarchuk Elena, Alina Polishchuk, Today

Content tags: Mortgages
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