Banks started raising rates up to 100% on mortgage products
Under the conditions of a high key rate, the cost of raising funds for banks has increased significantly. Because of this, they began to artificially slow down the issuance of housing loans, Deputy Finance Minister Ivan Chebeskov told Izvestia.
According to him, financial institutions began to add additional fees and increase the down payment, although it is not provided for by the terms of the program. As well as to issue an additional part of the loan to the preferential program on market conditions at extremely excessive rates. For example, at 100%, said the Deputy Minister.
"We and my colleagues from the Central Bank are fighting such cases. We are looking to make sure that there are no unfair practices. We do not like extreme practices, when the market part of the mortgage is issued at 100%, and the preferential one at 6%," Chebeskov emphasized.
Unfair practices have indeed spread recently, confirmed "Izvestia" in the press service of the Central Bank. They added: for example, some players apply a very high rate to the market part of the loan issued under combo programs with state support, the regulator said.
Borrowers use such an instrument when the cost of purchased housing exceeds the maximum amount provided by the preferential program, explained economist and expert on financial markets Olga Gogaladze.
She added: as of December this year, the average cost of an apartment in Moscow is about 20.3 million rubles, and in Russia - about 6.2 million. At the same time, the maximum amount of credit, for example, the family mortgage - only 12 million rubles for Moscow and St. Petersburg, and for other regions - 6 million.
Read more in the exclusive material "Izvestia":
Without a sense of meter: banks have started charging mortgage rates up to 100%
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