Banks will cease to issue loans to borrowers with a high level of debt
The number of people applying for a mortgage in addition to other loans exceeded 40%, Forbes reports citing an interview with Elvira Nabiullina on Russia24 TV-channel. The Central Bank decided to invite other banks to introduce an indicator of debt load. When issuing a mortgage, banks, of course, look at the loan history, check the economic capabilities of the borrower, but there are no minimum and maximum ratios for lending money.
According to the latest data from the Central Bank, the number of arrears on mortgages does not exceed 0.9%. Ksenia Yudaeva, senior vice-president of the Bank of Russia, said that the number of mortgage loans will increase. According to her, the discussion of linking the ratio to the debt load indicator will be held until the end of December. Earlier, the Bank of Russia introduced a coefficient for unsecured consumer loans and credit cards. From October 1, banks are calculating loans for all customers. In the future, if they want to give a loan to a borrower with a high load, the bank will need more funds. The head of Sberbank Herman Gref admitted that this measure will be painful for both banks and customers. According to him, they can lead to more expensive loans and an increase in the debt load.