The share of demand for mortgages with state support for the purchase of new buildings has decreased to a record 8% among all preferential lending programs, the federal company Etazhi said.
“In January 2022, the share of mortgages with state support among all preferential programs was almost 50%, in January 2023 – 33.8%, now it has dropped to a record 8.2%,” said the deputy head of the mortgage department of the federal company Etazhi. Tatiana Reshetnikova.
According to the expert, a steady trend towards a decrease in the share of mortgages with state support has been observed since September 2023, when 26.4% of borrowers were interested in it; by December their share had already dropped to 15%.
“The restrictions that have been introduced in relation to preferential programs are affecting, including the fact that you can only use them once, and this applies not only to borrowers, but also to their guarantors,” adds Reshetnikova.
At the same time, experts note a significant increase in the share of family mortgages; if in January 2022 only 43.9% of borrowers chose it, then by January 2023 the share had already increased to 56%, and in January 2024 the share of family mortgages among all preferential programs was – 74.7%. Rural, Far Eastern and IT mortgages accounted for 17.1% of all applications under preferential mortgage programs.
“The mortgage market is gradually transforming, and now about 2/3 of all borrowers qualify for a family mortgage. Mortgages with state support remain relevant for the development of the individual housing construction market, since this is the only preferential program that allows you to obtain a loan for the construction of a private house on your own, which is extremely important for those who are limited in funds,” concluded Reshetnikova.
Earlier, on January 29, DOM.RF told Izvestia that banks received additional limits on state mortgage programs in the amount of 2.3 trillion rubles. The majority of the funds were received by family mortgages (at 6%) – the limits on them were expanded by 1.2 trillion rubles, to 4.6 trillion, and preferential mortgages for new buildings (at 8%) received an additional 1 trillion rubles.
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