Sberbank will reduce the initial payment on mortgage products by 5 percentage points

Sberbank will reduce the initial payment on mortgage products by 5 percentage points


Sberbank is going to hold the biggest decrease in an initial contribution in this year – 5% across its mortgage products.

MOSCOW, 20 Oct. Sberbank October 26 will be reduced by 5 percentage points the initial fee on all its mortgage products, said the head of Department of development of mortgage lending of Sberbank Alexey Trubnikov.

“The twenty-sixth of October we will do the biggest decline in this year of the initial payment for all products is reduced downpayment to five percent,” said Trubnikov during the round table “mortgage: is there life without government support?”.

The initial payment on the primary and secondary housing will be from 15%, said the representative of the savings Bank. The exception will be mortgage products with gosupravleniem on which the initial payment should be 20%, according to government regulation.

“We expect that this will have a powerful effect to have on the growth of issuance (mortgage — ed.) in the secondary market of residential houses,” said Trubnikov.