After the introduction of commissions on preferential loans, the concentration of issuance on the largest banks began to decrease, and banks without commissions improved their positions, Dom.RF told
Russian banks, which did not introduce commissions on preferential mortgages for developers, improved their positions on housing loans in January. This is stated in the research of analysts “Dom.The Russian Federation”, which takes into account the statistics of the top 20 banks.
“After the introduction of commissions on concessional loans, the concentration of issuance on the largest banks began to decrease, and banks that did not introduce commissions significantly improved their positions both in terms of total issuance and in terms of loans provided with state support,” said the head of the analytical center Dom.Russian Federation” Mikhail Goldberg.
So, according to the Institute of Housing Development, the share of the bank “Dom.The Russian Federation, which did not introduce commissions, increased by 3 percentage points to 7% in total top-20 issues over the month. And the bank itself rose from fourth to third place. Sovcombank’s share increased by 2 percentage points to 3%. Promsvyazbank added 1 percentage point to 2%.
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Meanwhile, Sberbank, which introduced commissions, reduced its share of the total issue of the twenty in January by 4 percentage points, to 55%. VTB’s share decreased by 1 percentage point to 17%. Since February 28, the bank has canceled the fees. A similar decrease (by 1 percentage point) was observed for other banks with commissions — Alfa-Bank, Rosbank and Otkritie. Their shares decreased to 6%, 1% and 1%, respectively.
Banks with preferential mortgage fees have lost some of the demand in the capitals. According to CIAN estimates, in the Moscow region, the share of the three largest banks that introduced commissions for developers (Sberbank, VTB, Alfa-Bank) in mortgage transactions decreased from 81% in December to 77% in January. In 2023, these three banks held the largest market share in autumn — 85%. At the same time, the share of mortgages in the Moscow market of new buildings of Dom Bank increased over the month.The Russian Federation”, which did not introduce commissions for developers on preferential mortgages. If at the end of the year the bank occupied 5% of the lending market for new buildings in the Moscow region, then in January it was already 10%.
What kind of commissions are we talking about
In January, major banks (Sberbank, VTB, Alfa-Bank) announced the introduction of commissions for developers when issuing mortgages under all preferential programs. According to the new rules, the developer must subsidize a preferential loan. In addition, it is possible to apply for a preferential mortgage only from developers — partners of banks. Banks took this step due to a decrease in the maximum amount of subsidies under state programs from December 23 – by 0.5 percentage points, to 1.5%. According to experts interviewed by RBC-Real Estate, this may lead to an increase in prices for new buildings.
The Bank of Russia criticized the introduction of commissions and saw risks in them, among which the regulator called an increase in the cost of housing. The Central Bank also offered the operator of the program “Home.To even out the situation, consider expanding the limit on the issuance of preferential mortgage loans for those banks that do not impose fees.
The mortgage is supported by benefits
According to the calculations of the “House.In total, according to the results of January, banks from the top 20 issued 70 thousand mortgage loans (-11% by January 2023) for 276 billion rubles (-2%). It is noted that the decrease occurred solely due to the segments of ready-made apartments (-34% in number by January 2023) and ready-made individual houses (-18%) due to high market rates.
Under these conditions, demand continued to flow into the segment of housing under construction, where preferential programs operate. According to analysts, the issuance of preferential mortgages in January increased in annual terms by a third in number (35 thousand loans) and by 37% in amount (184 billion rubles). Growth was observed in all programs, except for preferential mortgages (against the background of tightening its conditions in December 2023). As a result, in January, the demand for mortgages in new buildings increased by a quarter in annual terms (25 thousand loans), and in the segment of private housing construction, issuance doubled (8 thousand loans).
See also:
- Banks have introduced a commission on preferential mortgages. How will this affect the price of housing
- “The house.The Russian Federation” can redistribute mortgage limits to banks without commissions
