Banks Believe In Borrowers

Despite strong growth in demand for mortgages in the spring of 2010, the recovery of the mortgage market is not so fast. And in this situation, banks are taking new steps to attract borrowers by offering ever more favorable credit terms. The volume of mortgage loans, million rubles per quarter in the near future, written by our colleagues from the magazine "Property and Prices, we can expect a" race loyalty "of the banks, similar to that occurred in the last pre-crisis years. Improving credit conditions began in the last year quite a traditional way – lower mortgage rates. And by the end of winter 2010 rates for the most attractive credit programs of banks fell below the "psychological" 10%. However, a simple rate cut did not stop. Sberbank took an unprecedented for the Russian mortgage market move – from April 19, quashed the commission for grant and loan processing. This was not even in the most favorable for borrowers pre-crisis times: reducing rates, banks preferred to "gather additionally" received profit commissions.

Following the abolition of the Savings Bank fees announced Delta-Credit and Credit Bank of Moscow ". Other banks have chosen to reduce the initial payment. So, to date, the minimum initial contribution of a number of cases dropped to 10% before the crisis. In fact, all these measures are aimed not only at maintaining the existing demand, but also to actively expand the circle of borrowers. Many experts believe that the possibility of lending banks have. One of the first anti-crisis measures of the government has insurance of deposits up to $ 700 thousand rubles.