Mortgage in Russia: between stabilization and death

Banks Finansy16-02-2009 Mortgage in Russia: between stabilization and the death of Russia's mortgage market is rapidly dying before our eyes. Today, market participants are in a hurry to assure us that the situation has stabilized. It seems that the mortgage back into the framework, which only possible for the Russian reality. To date, 70 major banks to issue mortgage loans, the former lending continues to maintain no more than a decade. According to analysts credit broker "Fosborn Home", whose study appeared in the disposal Bigness.ru, most players are completely turned off the mortgage program and have adopted a waiting attitude. In particular, this resulted in a tightening of requirements for potential borrowers. So, if in mid-2008 high-quality clients consider hired manager with an income of 25,000 rubles per person, then in the end, the banks demanded from the borrower's income in an amount not less than 40 000 rubles per person, and a list of demands to the borrower considerably increased. The required ratio of bank payment / income ratio (monthly payments to monthly income) increased from 50/50 to 30/70. That is, before the banks admitted that the borrower will spend up to half of their income on loan repayments. Now the application from a borrower who is going to start up on mortgage payments over 30% of their income, will not even be considered.