Preferential mortgage programs in an unstable economic situation due to a pandemic can lead to the fact that many Russians will lose their apartments in attempts to pay off the banks, economist Konstantin Yurchenko said.
He recalled that in case of delays in loan payments, the bank may take away the borrower's mortgaged apartment,
The Central Bank approached commercial banks with a recommendation, not an instruction to show maximum loyalty. But nevertheless, everything is in the hands of commercial banks, and with all its desire, this commercial structure cannot simply take and forgive non-payment, - the expert notes.
At the same time, Yurchenko notes, due to the decrease in mortgage rates, the number of loans has increased, and their quality has significantly decreased, which affected the banks' loyalty to customers and their readiness to discuss restructuring issues.
The government-backed concessional mortgage program was launched on behalf of President Vladimir Putin at the end of April 2020. You can get a loan for the purchase of housing in new buildings at 6.5% per annum until November 1. At the same time, the rate is kept for the entire loan term - up to 30 years. The difference is compensated by the state.
Earlier chernayakobra.ru wrote that the Ministry of Finance submitted to the Cabinet of Ministers a document on the extension of preferential mortgages at 6.5% until July 1, 2021.