Banks will offer the accumulative mechanism for housing acquisition to population

The traditional schemes for dwelling acquisition can be filled up with the accumulative mechanism in the nearest future. The search for additional incentives for house-building is of great importance since the hypothec is practically dead now. In 2009 the volumes of hypothec crediting in Bashkortostan have dropped five times and in 2010 there are no grounds to wait for any changes in this sphere.

Specialists of the National Bank RB believe the accumulative mechanism is able to play the stimulating role here.

“A part of our population keeps their savings in deposits and the major share of these means is meant for housing acquisition” – the chairman of the National Bank RB Rustem Mardanov explains the accumulative mechanism, offered by the banks – “For example, the person knows exactly he lays his means , say, during three-four years in order to buy a flat. These means are placed in the bank under the lowered interest rate – conditionally under 2% of interest per annum but at that the depositor knows exactly that in three-five years he may figure on the preferential bank credit –conditionally under 5-6% of interest per annum for the term of five-six years and the already accumulated money will be used as the initial payment”.

In opinion of the head of the National Bank RB this scheme is able to become an incentive for the purposeful accumulation of means for housing acquisition by population. Besides, the banks may easily direct these means for crediting of house-building.