The resumption of growth of mortgage loans issuance of 10% in comparison with August was facilitated by the fact that Sberbank has lowered rates on mortgage loans in July and August a total of 1.5 percentage points.
MOSCOW, 12 Oct. Sberbank captures the trend of recovery in the volume of disbursements on mortgage loans in Russia in September, the growth of mortgage lending in the Bank in comparison with August has exceeded 10%, said the head of Department of retail non-transactional products largest Russian Bank Natalia alymova.
“We see lending growth in September relative to August by 10%, i.e. from 50 to 56 billion rubles, respectively, in volume and 12% by number of loans, with 33 to 37 thousand pieces,” alymova said. “We see a moderate trend in the volume of disbursements on mortgage loans, although, of course, may be the pent-up demand”, — she added.
Sberbank has reduced rates on mortgage loans in July and August a total of 1.5 percentage points and achieved the result, concludes alymova.
For the period from January to September 2015 in the savings Bank issued 302 thousand mortgage loans totaling 462 bln rubles, which is 28% less than the same period last year, she said.
“On the demand side, the growth of applications in the second quarter of 2015 to the first quarter amounted to 60%, in the third quarter to the second quarter — 20%. The number of applications in the third quarter we are very close to figures for the same period in 2014,” added alymova.