Bases for decrease in interest rates under mortgage.

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Bases for decrease in interest rates under mortgage.

Both critics, and ideologists of national projects today recognize, that projects, called to provide accelerated rates of development of agrarian and industrial complex, to give to a great bulk population accessible habitation, formation and health services, "slip". The president of Russian Federation Vladimir Putin, and first vice-premier Dmitry Medvedev from time to time call banks and credit organizations for more active participation in realization of these projects. Whether however hear in banks these appeals?
While in most complex projects " Accessible habitation " and " Development of agrarian and industrial complex " are presented mainly state banks: "Savings Bank", VTB. However government is interested in attraction of bank community to wider participation in project. On other hand, it is not necessary to forget, that bank system of country yet has no national scope: according to experts, outside of it are 60 million Russian citizens.
In government expect, that national projects will promote development of bank services in regions: in cities - " Accessible habitation ", on village - " Development of agrarian and industrial complex ". In case of with " Accessible habitation " catalyst of process Agency on hypothecary housing crediting should act.
Let's remind, that, according to minister of regional development Alexander Jakovleva, two thirds of Russians require improvement of living conditions, and independently to solve this problem in forces only 9-10 % of the population of the country. A root of a problem - mortgage inaccessible to the majority. Rates under hypothecary credits (from 11 up to 14 % in roubles and from 9 up to 15 % in currency) are too high. However already now experts observe tendencies to downturn of rates.
Decrease in rates should provide and a decreasing inflation, and also a growing competition between banks which already participate in program. So, only for I banks have given out half-year 2006 of credits more, than for all last year. By estimation of experts, to 2010 of rate can decrease up to 8 % in roubles (under forecasts of government of Moscow in capital they will decrease also that below - up to 6 %).
To banking capital (in form of hypothecary credits) crucial importance is allocated in realization of the project - bank investments in the project per 2006-2010 should make 470 billion rbl. is 52 % from its total cost (902,4 billion rbl.). For comparison: means of federal budget - 26,6 %, regional and local budgets - 10,3 %, investments of citizens - 11,4 %. For today of 60 % of bank investments into national project 10 % - VTB belong to the Savings Bank, and. Investments of these "whales" cement the base of project, "magnetizing" other banks.
Actually as "magnet" acts - refinancing which is carried out by Agency on hypothecary housing crediting. State on behalf of Agency on hypothecary housing crediting not only "forces down" interest rates on hypothecary credits, but also closes risks on their growth in case of deterioration of a macroeconomic situation in country.
In leaving to year the Agency on hypothecary housing crediting has finished formation of filial base: now agency is presented to all 88 regions of country, and it is necessary to tell, that volume of refinancing of credits given out for a year is characterized by almost explosive dynamics. If in July, 2006 it made 2 billion rbl. in November - already 3,5 billion dollars, is expected, that by December it will reach 4,5 billion rbl. Under preliminary contract contracts Agency on hypothecary housing crediting plans to carry out in 2007 refinancing for sum 50 billion rbl. Oracles of hypothecary boom are very glad.
Nevertheless, high-grade branches Agency on hypothecary housing crediting work yet more than in 70 regions, - assistant to general director has told Agency on hypothecary housing crediting Evgenie Chepenko on air of a telechannel of RBC in program "Dialogue". Specificity of work in others 18 regions is crediting small business.
" Interest of banks enormous, - senior vice-president, a member of board VTB Konstantin Kozhevnikov is assured. - 470 billion rbl. are an enormous money, but for demanded to country 1,5 billion square meters is a little, in fact 50 million square meters a year " is under construction only. According to K.Kozhevnikova, to perspective market representatives of foreign banks already look narrowly.
Without mass construction, experts consider, serious decrease in rates under hypothecary credits, as well as prices for habitation, it is impossible. While there is only a struggle for Soviet heritage: market of secondary habitation too big, and built up territories from the point of view of a municipal infrastructure have been prepared in 80th years. Money allocated from federal budget, go mostly on preparation of new building sites that reduces charges of commercial investor.
But bankers have waited from state not only investment support: gradually they achieve simplification of bureaucratic procedures. For example, term of registration of hypothecary transactions has been reduced in leaving to year with 30 till 5 days and so on. It is necessary to wait decrease in interest rates.

Source: Info Cash Loan (19.12.2006)

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