Seems to stabilize the economy and financial sector promises a fair warming in mortgage lending. Judge for yourself, since the end of October, when we published our autumn mortgage review, not only increased the number of banks that lend to housing purchase, but also significantly changed the conditions of such loans.
Related article: Housing clearance: demand overtakes supplyRecall that in the summer bank mortgage lenders was 25 in autumn 1930, and now - about 40. In the process outgoing calls in four more banks told us that developing a mortgage program and start lending in February, the latest in March. Heat until the mortgage, which was before the crisis, when the mortgage was given even without a down payment, of course, far away. But the stakes are almost at pre-crisis level, the first installment falling and returning foreign currency loans, wrote today.
If given, then who?
"Mortgage - only for the rich and very reliable" - described the current state of mortgage lending department head of credit products of OTP Bank Svetlana Spitsyn. But the loans banks do provide.
For example, the press service of the VTB Bank "We have admitted that in October-December 2010, the Bank issued 137 loans, granting 75% of applications for such loans. In OTP Bank - 60% satisfied. The secret to such a cool statistic is that bank managers simply do not allow known no-go application. And bankers say that because of low incomes and wages in envelopes wrapped more than half want to buy an apartment on credit.
Bankers do not hide who want to see their borrowers: civil servants, businessmen, workers and middle managers of large companies 25-40 years, living in big cities, families with children.
RATES: ALL BELOW AND BELOW AND BELOW
Mortgage warming has affected primarily the interest rates. Back in the summer 2010 they were at the level of 21-26% in autumn reduced to 19-21% per annum and is now closely getting to pre-crisis level - 17-20%. Yes, some banks still hold rates 22-24% or even 28%, but most of them were fixed at the level of 17-19%. And there rates are even lower - 15-16%.
That or promotional offers that banks form a campaign to attract customers, or floating rates (by the way, the number of banks, whose rates "floated", increased from 6 to 8). Also found lower rates, for example, 8.8% or 12%, but this rate-barkers, and are usually strapped banks monthly fees, which greatly increases the cost of credit.
But the main news of the mortgage of the season - the return of foreign currency loans. "Subsidiary Bank Sberbank of Russia began to give mortgages in rubles at 13-15% per annum. Clarified that the Russian mother Savings Bank of Russia gives mortgages 10-14% per annum in rubles and 30 years.
As explained to us the first deputy head of Ukrainian Banks Oleksandr Vedyahin, is currently a ban on the issuance of foreign currency loans is not - the banks only have to create spetsrezervy under such loans to citizens with no foreign exchange earnings. That is, foreign currency loans to banks give everyone who comes to other claims. Other banks, including subsidiaries of large European groups, while foreign currency lending is not renewed.
CONTRIBUTIONS less, but this does not help
In addition to lowering rates, banks reduced further and the first payment (30% installment loans to 20 banks with 12 in autumn). And banks have increased credit terms: more banks are giving mortgages to 20 years. All mortgage changes should in theory have been seriously make life easier for future borrowers. But this did not happen.
For example, the "Index-Bank lowered the rate from 20% to 17,5-18%, increased the loan term from 15 to 20 years and decreased from 50% to 40% down payment. Since the fall of the loan in 15 years the borrower pays 4,215 USD. an annuity and 5333 UAH. the standard scheme of repayment. Now, borrowers who took loans on new terms, pay 4445 and 5520 UAH. respectively.
And if the borrower could make the rent 50% down payment, his payments would be 3612 and 4500 UAH. respectively. But the situation is not saved. For most potential borrowers still do not have money for a down payment and low income. By the way, banks' claims to income has not changed - they still have to be large and formal, that is confirmed by reference to the work or other document.
According to a member of the bank "Forum" Krzysztof Kuzhbika, "the amount of loan repayment should not exceed 60% of the income that remains after deducting the mandatory spending on food, an apartment, clothes." At other banks, this requirement is easier: Income must be in 2-2,5 times higher loan payment. Agree that such proceeds can boast of a few.
WHEN feel better
As we discovered, to take to buy an apartment, despite the simplification of the conditions for granting loans, has not become easier. Moreover, the surveyed experts believe that the pre-crisis mortgage freebie back very soon, and further relaxations if and are then not immediately. "We do not expect the mortgage boom in 2011. The big breakthrough has been made in the past year, including the rates, but further liberalization will proceed smoothly. We expect that the outcome of this year the rate decreased by 2-2,5% as a down payment on the average drops to 25-30%, "- said Krzysztof Kuzhbik from the bank" Forum ".
"This year, mortgage terms are only slowly improving, but willing to take a mortgage loan does not increase. Will not allow the low solvency of potential borrowers, "- I agree with my colleague President of the Ukrainian think-tank, Alexander Okhrimenko. Some salvation for future borrowers, according to experts, could be the revitalization of the State Mortgage Institution, whose capital the state has increased by 200 million UAH., Up to 2,2 billion
"I'd like to believe that the SMI will now present the refinancing of mortgages. If they refinance for 11% and the banks will add his small margin, many people will be able to borrow at 14-15%, "- hoping Alexander Okhrimenko.
For the more notable shifts in the mortgage lending needs serious changes. For example, for most of our banks remain closed external capital markets. To solve this problem the upgrade, which need a stable GDP growth, with IMF, repayment of foreign debts. If we all perform, and the insurance rating will rise, then we will prepare for mass mortgage at 12%. But our experts believe that it will become a reality until the year 2012-2013.
Tatiana Nadtochy, director of retail business of JSC "Erste Bank":
Mortgages will become more accessible to borrowers when the price drop of resources attracted by the banks (deposits of natural persons) and tougher competition among banks, while more banks will issue mortgage loans and rates on these loans will be more attractive.
Alexander Okhrimenko, president of the Ukrainian think tank:
Mortgages will become available no earlier than 2013. In 2011 we can say only that part will improve the conditions of loans, but willing to take a mortgage loan does not increase. More precisely, take the mortgage will not allow a low level of solvency and creditworthiness of most potential borrowers.
As to the rates, like it or not, but banks still need to offset losses on the old mortgage, and to do in interest rates on new loans have mortgage "payment for losses from old loans." As a result, actual mortgage rates below 18% in 2011 will not fall.
Krzysztof Kuzhbik, a board member for the retail banking business forum Commerzbank Group:
We do not expect a boom in mortgage lending in 2011. The big breakthrough has occurred in the past year. Now credit conditions are adequate to the cost of a resource on the market and macroeconomic indicators of the national economy. Further liberalization of the conditions will proceed smoothly, and by the end of this year will be 2 - 2.5% fall in interest rates and the achievement of average level of 25-30% for a down payment.