MORTGAGE LENDING

MORTGAGE LENDING, a pledge of immovable property for the purpose of obtaining a loan, and usually without transfer of the property to the collateral creditor. Mortgage loans are distinguished by real estate object, type of borrowers, and methods of debt repayment. In RB, M.l. for the purchase of housing is the most wide-spread. In 2017, more than 35 thousand mortgage housing loans were provided in RB, the volume of mortgage loans was 61 billion rubles, the share of mortgage loans issued for the purchase of housing under construction – 28%. The average crediting period as of December 1, 2017 was 14.5 years, while the weighted average interest rate was 10.8%. Approx. half of the mortgage deals are flats in new buildings. The basic share of the total volume of loans was issued by the following banks: OAO Sberbank of Russia, URALSIB, Gazprombank, and ZAO Bank VTB 24. Since 2005, RB has been providing social mortgage. RB ranks the 2nd in the Volga Federal District in terms of the volume and number of mortgage loans provided.