Rus News Journal

Doubling of rates

the Mortgage in Russia gradually comes back to level of 2000 when volumes of its delivery were minimum. The largest players of the mortgage market establish protecting tariffs for delivery of credits: the Alpha bank has declared increase of rates at once on 5 % of the annual. In bank explain increase by the become aggravated crisis in the financial markets and uncertainty with cost of resources for crediting financing.
as have informed in Alpha bank, in the near future the average rate on a rouble mortgage will exceed 20 % annual, on dollar - 16,5 % annual. Increase will average 5 percentage points: now rates on a rouble mortgage of Alpha bank make an order of 15,5 % annual, on currency - about 12,5 % annual. Simultaneously the bank establishes the commission for credit delivery.

This biggest increase of rates on a mortgage from the moment of an aggravation of financial crisis - in second half of September the basic players have raised rates under housing credits on 1,5 - 2 %. For a year credits for habitation have risen in price more than in one and a half time: in the summer of last year banks offered the credit on the average under 12,6 % annual. Many banks have suspended delivery of a mortgage and now reconsider rates. the decision was accepted in connection with sharply changed situation in stock market, we cannot predict cost of attraction of resources " yet; - the head of the block " has explained; Mortgage lending Alpha bank Ilya Zibarev. As he said, for October increase within 1,5 - 2 % annual has been planned, however last days it has been reconsidered towards increase.

participants of the market name mortgage rates of Alpha bank which is one of the largest players in the mortgage market, Protecting . According to the director of department of mortgage lending VTB 24 Anatolys Pechatnikova, the maximum rate on a rouble mortgage - 17,5 % annual, delivery of credits under higher rate in times increases risks of delay. rates of the Alpha bank, one of the largest Russian commercial banks - the original indicator for all market, reflecting objective cost of resources - the director of department of sales of Russian savings and loan association Alexey Dorosh considers. Simultaneously with Alpha bank about preparing increase of rates on a mortgage on 1 - 2 % annual, has informed a source in FK Uralsib . Has toughened conditions and the Absolute bank temporarily refused crediting of under construction habitation, including this segment vysokoriskovym. Before its basic shareholder Belgian KBC declared possible decrease in costs within the limits of group, without specifying, about which measures speech will go.

Experts notice that in the near future the commercial banks which do not have direct access to state resources, will be compelled to reconsider once again rates towards increase. the market passes to conservative model of behaviour, in the near future the mortgage will come to a condition of 2000 when such credits were the piece goods - general director TSEA " considers; Interfax Michael Matovnikov. In 2000 the share of mortgage loans in total amount of retail credits did not exceed 1 %, following the results of 2007 it, according to Bank of Russia, has reached 15,6 %. According to the expert, after toughening of standards AIZHK and sharp currency fluctuations last months have caused closing of foreign markets of financing, absence of internal institute of refinancing impossibility of a mortgage as that . The offer of commercial banks will be reduced in the near future to a minimum while mortgage programs toughen also the basic State Banks VTB 24 and the Savings Bank (sm from October, 6th).

to Predict volumes of delivery of a mortgage following the results of a year experts yesterday have appeared are not ready. all depends on how the anti-recessionary measures declared yesterday by the government will be realised, - the economist of bank " considers; the Trust Evgenie Nadorshin. - In a case if they will not be realised, the market of crediting waits a collapse . According to Alexey Dorosha, till the end of the year the delivery volume at the best will reach last year`s indicators - according to Bank of Russia, 556,5 mlrd rbl.