According to the Central Bank, the volume of mortgages in January, after a significant increase in December, fell by more than half: credit institutions provided 77.3 thousand loans totaling 281.6 billion rubles. In addition to the seasonal nature of the decline in demand for housing, credit organizations themselves often refuse to issue housing loans. Last year, for example, they turned down almost half of the applications. “Parliamentary newspaper” found out the possible reasons for the negative answer.
The share of refusals on mortgage applications at the end of 2022 increased from 34.1 percent in the first quarter to 46.2 percent in the fourth, RBC reports citing the National Bureau of Credit Histories.
Often, credit institutions are in no hurry to report the reasons for a negative response to an application, however, the main ones are known. So, real estate market expert, member of the Russian Guild of Realtors Konstantin Barsukov, in an interview with Parlamentskaya Gazeta, called the existing delays on other loans the correct prerequisite for refusing to issue a mortgage.
“The second is debts through bailiffs. Information about them can be seen on the website of the bailiffs, he said. “Tax debt is also an aggravating factor.”
Another expert drew attention to the recent long delays in loan payments. For example, a delay of one or two days is technically not taken into account by the bank, but delays above 30 days are considered critical.
“But if it was 5 years ago, most likely everything will be fine, but if something is fresh, then a refusal is possible. Therefore, when applying for a mortgage, you need to order a credit report. Because sometimes there are situations when there are not your own loans or delinquencies of one ruble. It is better to know about this in advance, ”the expert clarified.
There are also restrictions on the client’s income, but they depend on the bank. Estimated monthly mortgage payment must not exceed 50 percent of gross monthly income. “If there are other loans, then you need to subtract the amount of the payment from the income so that the net income remains. Banks also take into account the presence of children, ”the expert noted.
There are also age restrictions – from 18 to 75 years. “But in fact, you can find banks that issue loans even up to 85 years. But basically, the age limit at the end of the mortgage term for banks is 70-75 years. That is, roughly speaking, if you take out a loan for 10 years, you should not be over 65 years old,” Barsukov said.
The full material will be published on the Parliamentary Newspaper website at a later date.
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