Experts: banks massively raise the age of mortgage holders to the maximum

CrimeaPRESS reports:

Banks began to massively raise the age limit for mortgage holders by 5 years at once — up to 70–75. Participants of the real estate market and representatives of credit institutions told about this «Izvestia». Compared to the same period last year, the share of borrowers of retirement age increased by 9%. Banks thus expand the pool of their customers, while borrowers get the opportunity to significantly reduce mortgage payments, experts explained.

High age

In 70 year, banks began to massively raise the age limit for mortgage borrowers — up to 70–75 years, said Tatyana Reshetnikova, Deputy Head of the Mortgage Department of the Federal Company Etazhi. We are talking about how much the borrower can fulfill at the time of completion of loan payments, she explained.

For example, the DOM.RF bank increased the indicator by 5 years, to 70. From to 70 increased the age at Promsvyazbank and the All-Russian Regional Development Bank. And Ak Bars Bank raised the bar from 70 to 75 years. Izvestia was told about this in these credit institutions. According to «Etazhi», the indicator was also raised in «Sberbank», Minbank, Alfa-Bank. Izvestia sent inquiries to the listed and other large credit organizations.

Rosbank said that they are now considering the possibility of issuing mortgages to older clients. The RNKB noted that today in the organization the age limit for mortgage borrowers is 45 years, and if customers there is a need to raise the bar, the bank is ready to promptly consider the issue.

It is interesting that in Sovcombank the figure is already 85 years. According to the managing director of the organization Artem Yazykov, the bank takes a socially oriented position and is loyal to all categories of borrowers, regardless of profession, type of employment and age.

For a long time, we recorded an active interest in mortgage loans from clients aged from 10 years, and decided to satisfy the request of this target audience to increase the age limit for borrowers. Thanks to this innovation, the ability to take out a mortgage for a maximum period of up to 30 years has received more the number of citizens , — said Alexey Kosyakov, Deputy Chairman of the Board of DOM.RF Bank.

The measure allows credit institutions to expand the audience and attract an additional number of borrowers, said Sergey Nyukhalov, Deputy Sales Director of Granel Group of Companies. At the same time, emerging risks are leveled by insuring borrowers, he added.

Also among the reasons for the development of the trend is the growth in housing prices, which also leads to an increase in the amount of loans, said Denis Bobkov, head of marketing and analytics at Asterus. To reduce the monthly loan burden, buyers seek to take out a mortgage loan for the longest possible term, he explained.

However, restrictions on the age of the borrower often become a reason for refusing a loan. For example, a solvent borrower aged 30 years can take out a mortgage for a maximum of 20 years, but the monthly payment for such a period is too high , — said Denis Bobkov.

The main pool of borrowers in large banks consists of two age categories: – years and 30–25, said Aleksey Novikov, Director of the Est-a-Tet Mortgage Lending Department.

Benefits for everyone

For eight months 70 the share of mortgage borrowers whose main income is pension increased in Russia by 9 % compared to the same period last year, said Tatiana Reshetnikova.

Moreover, banks are interested in more mature mortgage lenders, since their payment discipline can compare favorably with the behavior of young people, said Andrei Barkhota, an expert on the mortgage market.

Life expectancy is growing all over the world, and Russia is no exception in this regard — the onset of retirement age today does not mean at all that a person plans to quit his job, the Level Group noted. In addition, sources of passive income may appear by this age, for example, deposits, rental property, added to the development company.

An increase in the term of a mortgage loan, other things being equal, reduces the amount of the monthly payment , — said Andriy Barkhota.

For example, at a rate of 10,2% increase in the mortgage term From to 10 years will reduce the monthly payment by 8.8%: with a loan of 1 million rubles, payments will be 9.8 thousand rubles and 8.9 thousand rubles, respectively, said Tatyana Reshetnikova. With a low level of official income for borrowers, such a reduction in payment is often fundamental, she emphasized.

The innovations of banks, in fact, are, first of all, a significant social project that will allow almost all age categories of citizens to purchase real estate, Dmitry Sofronov, commercial director of Dars development, believes. But this will not have a fundamental impact on the market: the share of borrowers with the main income from pensions is growing, but in the total volume of applications it is small , — said Tatyana Reshetnikova.

Source: Izvestia

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