RDI at the 13th All-Russian Conference "Mortgage Lending in Russia”: First Results of the Government Mortgage Subsidizing Program Not Bad in General

24/ 04

The 13th All-Russian Conference "Mortgage Lending in Russia" has been recently held in the Krasnye Kholmy Swisshotel.

Participants in the conference discussed a number of issues, including maintenance of the market for mortgage lending services at the levels achieved, most effective mechanisms for stimulation of the economy-class housing construction projects, ways of containment of residential housing prices and other pressing issues.

Participants in the conference included leading specialists of the mortgage market, representatives of the banking institutions and government organizations concerned, leaders of the insurance and appraisal business and leading analysts and economists.

Owing to deferred demand for mortgage loans, many banks have received a large number of mortgage loan applications since the start of the government program of mortgage subsidizing. Potential buyers were waiting for the launch of the government mortgage subsidizing program. However, participants in the conference pointed out that possibilities of further worsening of the potential borrowers' financial situation still prevents them from borrowing on mortgage.

"The government mortgage subsidizing program was launched in March, and its overall results are not bad," says Rustam Azizov, head of the RDI Mortgage and Partner Relation Department, and adds: Compared to January and February of 2015, we see an increase in the number of applications for mortgage loans. However, if we compare the figures with those of the last year, we see that the number of applications decreased significantly.