The Bank of Russia introduces a premium on the risk ratio for mortgage loans with an initial payment of no more than 10% as part of participation in shared housing construction from December 1, 2022. This was reported by the press service of the regulator.
The amount of the premium is 2.0, regardless of the value of the debt burden indicator of the borrower (DIN). It is assumed that the issuance of such loans will be unprofitable for banks, and they will limit them.
In early March, to support banks and help finance housing construction, all surcharges on shared housing construction loans were canceled. At the same time, a “restrictive” premium of 2.0 continued to be applied on ready-made housing mortgages with an initial payment of less than 10%.
Besides, despite the abolition of surcharges, during the second quarter of 2022, banks practically did not provide shared housing construction loans with an initial payment of less than 10%: their share in the second quarter of this year amounted to 0.3% (2.6% in the first quarter of 2022 years), indicated in the Bank of Russia.
“In recent months, construction companies have begun to actively advertise mortgage programs without a down payment, including in installments in the new housing market. At the same time, the historical data of banks shows that borrowers applying for a loan with a low down payment are characterized by an increased level of credit risk,” the Central Bank stressed.