Home Borrower SberBank: Average age of IHC mortgage borrowers is now two years younger

SberBank: Average age of IHC mortgage borrowers is now two years younger

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According to data from SberBank, the demand for mortgages for single-family homes continues to grow. During the eight months of this year, 5,631 loans totaling 15.025 billion rubles were issued, an increase of 4.5 times a year in qualitative terms and 4.25 times a year in cumulative terms. While the average age of a borrower receiving a loan for IHC in 2019 was 38, it is now 36.

Nikolay Vasyov, Vice President, Sberbank, Head of DomClick Division:

“SberBank is constantly working to make mortgage programs more accessible to Russians. We recently did a small study which found that more young people are applying for home construction mortgages than a few years ago. We have seen the age. of this type of borrower has been declining steadily in recent years. The proportion of married borrowers is also increasing. In 2019, 76% of borrowers were married, in 2020 this figure was 82%, and this year it is 86%. Average IHC mortgage duration increases and, according to mortgages issued in January-August 2021, is 19 years (a year ago the face value of a residential mortgage loan was around 18 years, in 2019 it will be 16 years). in application for IHC mortgages at the launch of various programs at the bank, at favorable rates and the expansion of government projects to support this area. “

The contribution of government programs to the demand for mortgages for single-family homes is increasing. In 2021, nearly 1,500 loans worth 6.6 billion rubles were issued, representing 26% of issues since the start of the year in quantitative terms and 44% in cumulative terms. These programs include the Far East Mortgage and the Family Mortgage, following the extension of the latter’s terms in 2021.

Under the Families with Children program, clients can either build a house or buy land and build a house there, with rates starting at 5.3%. The Far Eastern mortgage, a loan for a completed house, is available at the rate of 0.1% per annum and for a detached house at a rate of 1.3% per annum. SberBank offers mortgages under suburban housing and real estate construction programs for the purchase or construction of a garden house or dacha. If the house is for permanent residence and is registered with Rosreestr as secondary real estate, it is eligible for the completed home loan program.

The preferential mortgage program for building a house on land with proven contractors is popular. The interest rate starts at 6%.

SberBank also launched a complete solution for the construction of single-family homes in 2021, including project finance for the construction of residential housing by developers through escrow and offering preferential mortgage terms to people buying housing in these buildings. Mortgages under this program are available from 4.6% per annum. Apply for a residential mortgage remotely at DomClick.ru.

Disclaimer

Sberbank of Russia published this content on October 14, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on October 14, 2021 08:41:06 AM UTC.


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