Mortgage borrowers go on late.
According to Central Bank data, the strongest growth of arrears on the mortgage in February was observed in the segment of early arrears — up to 30 days. Market participants indicate that the reason is the deterioration in the financial condition of borrowers, many of which are no longer able to make payments even on restructured debt
Source:the photo Archive of “Kommersant”publishing house
Grouping of the debt on mortgage housing loans by periods of delay payments on 1 February published on the website of the Bank of Russia.
According to disclosed data, in February, arrears on mortgages have increased in all the categories of debt allocated to the Central Bank.
However, the most noticeable increase is in the category of mortgages, the payments on which are overdue up to 30 days — a month at 70% to 129.6 billion rubles.
In the category of mortgages with overdue payments from 31 to 90 days amount of arrears grew by 5.3% to 34.9 billion rubles 91 to 180 days 5.6%, to 21.9 billion rubles, more than 180 days — on 3,6%, to 108.5 billion rubles.
The share of past due mortgages in February fell by 1.4 percentage points to 92.7%, or 3,77 trillion rubles— the lowest level since 2011.
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According to market participants, the growing arrears in February was caused by several factors. “First of all, on the behavior of borrowers affected by the deterioration of the economic situation”, — the Director of the Directorate of mortgage lending of Transcapitalbank Vadim Paharenko.
“Many borrowers are trying to pay the mortgage in 2015, despite the decline in solvency and other difficulties.
However, the ongoing fall in income and decrease in property prices, which many the cost of credit began to exceed the cost of housing, people lose motivation to pay the mortgage”, — says the first Deputy Chairman of the management Board of the Bank housing Finance Igor Zhigunov.
In his words, “the decline in the creditworthiness of the borrowers is reflected in the amount requested by them mortgage loans — if earlier the average amount of mortgages in the regions was 1.5−2 million rubles,now it dropped to 1-1. 3 million rubles”.
Thus, according to him, the delinquency new loans may be due to the fact that in the past year, banks have actively restructured mortgage loans. “For a while the restructuring helped, but, obviously, now again not able to service even restructured debts,” says Mr. Zhigunov.
In addition, will not go away, the problem of foreign currency mortgages, and more and more people, desperate to await the decision of problems, stop paying.
“Because of the growth rate for 2015 many of these borrowers to the beginning of 2016 has actually exhausted their savings, which previously could repay the mortgage without delay”, — says the Director of Department of mortgage lending of Bank of Moscow of Georgian-Aristakesyan.
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Bankers expect that in the next two to three months, the growth delay may be prolonged and recovery is to wait until the second half of 2016. However, “to significantly revive the mortgage market preconditions so far”, indicates the chief economist PF “Capital” Evgenie Nadorshin.
“Inflation is still very high and real incomes continue to decline.
Reduced income, in turn, reduces the opportunity to accumulate even for a down payment on a mortgage that will result in a reduction of distributions, — he explains.— Reduction of disbursements on the background of the deteriorating financial condition of people who already took mortgages most likely will affect the deterioration of the portfolio throughout 2016.”
The Bank of Russia has not commented on the growth of the early stitching on the mortgage. There has not responded to the request to “Kommersant”.
Valeria Frantseva
