Mortgage loans granted reached 72.4 billion rubles in Bashkortostan

UFA, 7 December 2018. /Bashinform News Agency, Galina Bakhshieva/ translated by Tatiana Aksyutina/. For 10 months of 2018, residents of Bashkortostan concluded 1.5 times more mortgage contracts than a year ago. The amount of mortgage loans increased compared to last year by 1.6 times - up to 72.4 billion rubles, the press service of the National Bank RB reports.

“Such a sharp increase in mortgage lending occurred due to the softening of banks' requirements to borrowers and an increase in the availability of mortgage lending. The average mortgage rate has now reached its historic minimum and amounted to 9.4%”, explained Marat Kashapov, bank executive of the National Bank Office for the Urals Central Bank RB. “High lending volumes are partly explained by refinancing of previously granted loans at lower rates”.

According to him, since the beginning of the year, the mortgage portfolio of banks has increased by 24.1% - up to 174 billion rubles. At the same time, the share of loans that not paid off in time is steadily declining in the region. Thus, it decreased from 0.9 to 0.7% year to date.