The Central Bank announced possible limits on mortgages and car loans

Starting from April 1, the Central Bank of the Russian Federation will receive the authority to set limits on mortgage and car loans. This was announced on March 9 by Elizaveta Danilova, Director of the Financial Stability Department of the Bank of Russia, in an interview with Rossiyskaya Gazeta.

"As for the new measures, starting from April 1 of this year, we will have the opportunity to set limits on risky loans in both mortgages and car loans... Experience has shown that this tool is very effective," she said.

According to her, possible mortgage restrictions may affect loans with a down payment of less than 20% and a borrower's debt burden of more than 80%. She noted that this combination of indicators significantly increases the chances of loan delinquency.

In car loans, the Central Bank also plans to reduce the issuance of loans to customers with a high debt burden. In addition, the restrictions will apply to cases when funds are used not for the purchase of a car, but for any other purpose secured by an existing vehicle.

Payment visibility: The average mortgage cost dropped below 30% in early March

Why are housing loans getting cheaper and how will this affect the real estate market?

Earlier, on February 27, the chairman of the Central Bank, Elvira Nabiullina, said that the regulator expects mortgage lending in the country to grow by 5% in 2025. In addition, the Bank of Russia assumes that during the year the dynamics of consumer lending will range from a decline of 1% to an increase of 4%. Nabiullina believes that tight monetary conditions will reduce demand, and the Central Bank's measures against the creditworthiness of citizens will force the issuance of risky loans to decrease further.