The financial expert spoke about the difference between consumer loans and mortgages

Currently, it is quite difficult to get a mortgage, and buyers often consider consumer loans as an alternative, considering it an easier option. But such a choice can be a costly mistake, said Alexey Lashko, a financial expert and head of the Assistance Group of Companies, on Monday, July 7.

He warned that consumer loan rates are significantly higher than mortgage rates, which leads to a serious overpayment over the entire loan period.

"In addition, consumer loans are usually issued for a maximum of five years. When buying a home, this means huge monthly payments that can seriously hit the family budget," the expert said in an interview with aif.ru .

Lashko added that the borrower risks both direct monetary losses and indirect ones.

"A mortgage entitles you to tax deductions. Participation in government support programs, preferential conditions for certain categories of the population. With regular lending, there is none of this," he listed.

Sales culture: the number of urgent apartment sales increased by 30% in Russia

The supply on the market may exceed the effective demand, industry experts explain.

Artem Kiryanov, deputy Chairman of the State Duma Committee on Economic Policy, told the National Assembly on July 2 that the Central Bank's key rate could be reduced by 1% in July this year, and it would drop to 16% per annum by the end of 2025.

Banks have begun to gradually reduce market mortgage rates. Since July 1, Sberbank has reduced market mortgage rates by 0.5-2 percentage points, depending on the initial payment, the website says. kp.ru .

Taking into account all available discounts, the minimum market mortgage rate will be 22.4% for primary housing, 22.8% for secondary housing, and 23.8% for the Residential Building program, the Moscow City News agency said.

On June 28, Anatoly Aksakov, chairman of the State Duma Committee on the Financial Market, said that mortgage rates in Russia will remain high, and now it is more profitable to accumulate funds for the purchase of housing. 360.ru .

He also noted that mortgage repayment payments for large families in Russia can be doubled: from 450 thousand to 900 thousand rubles, RT reports.