The average maturity of mortgage loans in the first half of 2021 has grown significantly compared to the same period in 2020. About it write Izvestia citing the press service of the Bank of Russia.
Thus, the corresponding indicators reached 20.9 years for new buildings and 20 years for secondary housing. As explained in the Central Bank, such a trend appeared in 2016 (then the values did not exceed 15 years and 14.8 years, respectively), and in 2021 it intensified due to an increase in mortgage rates: with an increase in the loan term, borrowers reduced the monthly payment, thus compensating the rise in prices for housing, the newspaper notes.
In addition, the terms of lending on car loans increased from 3.8 years to 4.5 years, and on consumer unsecured loans or cash loans – from 3.5 years to almost 3.9 years.
The interlocutor of the edition, the head of Equifax, Oleg Lagutkin, noted that a longer loan carries great risks of non-repayment, there is a danger that over time the level of income may fall, then it will become too difficult to repay the loan.
Earlier in Russia, it was proposed to reduce the mortgage rate for energy-efficient housing. It is proposed to cut the mortgage rate for the purchase of energy efficient housing by one percentage point. In addition, it is planned to oblige developers to inform buyers about the energy efficiency class of the house. Currently, more than half of Russian new buildings have