In August, a sharp increase in the number of applications for
mortgage was recorded. First of all, this is due to the decrease in
mortgage rates. The number of applications for a loan for
purchase of an apartment after the August rate cut increased by 15 percent compared to the average in July, the press service reports
According to the bank, up to 4.5 thousand borrowers apply for
mortgages daily.
“August is not the month of the most rush demand for housing loans — the market is traditionally preparing for the autumn sales season. But this year it started for us with a sharp increase in the number of applications. This is due to a decrease in
mortgage rates for our base line,” explained Anatoly Pechatnikov, Deputy President and Chairman of the Board of VTB.
< br> On August 5, the bank reduced
mortgage rates by 0.5 percentage points. Now a loan for
ready housing or
new building< /a>, as well as refinancing an existing mortgage of another bank can be issued at a rate of 7.4 percent per annum, within the framework of the Far East
mortgages - for only 1 percent.
On August 11, VTB Bank reduced the amount of the first installment on
mortgage for families with children: from 20 to 15 percent. The reduction in the amount of the first installment applies to the Mortgage for Families with Children and Far Eastern
mortgage programs.
