Central Bank plans to tighten mortgages issuance

Tatyana Aksyutina

To minimize the risks of credit institutions, the Central Bank plans to introduce restrictions on issuing car loans and mortgages starting in April 2025. The corresponding law was approved by the Federation Council today, November 20, the Bank of Russia reported

Risky mortgage issuances are supposed to include loans to borrowers who spend more than half of their income on debt servicing and have a low down payment.

“It is also planned to limit the issuance of mortgage loans for over 30 years, since over such a long period, the borrower may encounter difficulties that banks are unable to assess at the time of issuing the loan,” the Central Bank said in a press release.

Mortgage limits are expected to be introduced in two stages:

— from July 1, 2025 — for loans for apartments in new buildings and finished houses,

— from January 1, 2026 — for loans for constructing a residential building and other loans secured by real estate.

This year, the Central Bank has complicated consumer lending for individuals with a high debt burden.

Author: Elina Akhmetova

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