Economist assessed the need for early repayment of mortgages

The decision on the expediency of early repayment of the mortgage depends on the individual characteristics of each borrower. This opinion was expressed by Mikhail Belyaev, candidate of economic sciences, financial analyst, on Tuesday, December 10.

The day before it became known that the volume of early repayment of mortgages in Russian banks has fallen to a two-year low, RT reports.

Experts explain the trend by two factors: it is more profitable for people to put money at the current high interest rates on deposits than to pay off mortgages early, and also citizens have a reduction in available funds that could be used for early repayment of the loan, RIAMO writes.

According to Belyaev, there is a sense both in the early repayment of the mortgage, and in leaving free funds on deposit.

"Everyone decides for himself what is more profitable for him. For some it is more profitable money, for some it is more profitable even the psychological factor that you are more likely to get away from this case, the apartment has become your full property, and you somehow breathe easy," - said Belyaev in conversation with Lenta.Ru.

He noted that the situation depends on the terms of the contract. It is important, at what interest rate the mortgage loan is taken, what amount the borrower pays, on what term he is on.

"If you pay this mortgage at all from current income and expenses, then there, of course, no early repayment is out of the question, although you can somehow spin, at least a little to move it," - concluded the economist.

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Earlier in the day, Neomarkets analyst Oleg Kalmanovich said that a mortgage with a 50% rate may appear in Russia if the country is hit by a severe economic crisis, according to 360.ru.

In Russia, 60% of respondents use the possibility of early repayment of mortgages, according to the results of a study of the platform "Avito Real Estate", which were read by "Izvestia" on December 5.

A quarter (25%) of Russians reduce the size of the monthly payment with the preservation of the term of the loan. Another 35% reduce the term of the loan while maintaining the monthly payment. Make the minimum payment schedule 40% of respondents.

November 13, the press service of the Department of the Federal Service for State Registration, Cadastre and Cartography (Rosreestr) in Moscow reported that the number of mortgage transactions that were executed in October 2024, in the capital increased by almost 24% compared to last month's figures, reports the agency of city news "Moscow".