Who pays much?

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Who pays much

Central Bank has decided to find out, how is frequent Russians ahead of schedule repay hypothecary credits. For this purpose regulator has let out special instruction " About carrying out of lumpsum inspection of preschedule repayment of hypothecary housing credits " according to which data about such operations are obliged to give Russian banks till April, 25th, 2007.

As they say in document of Central Bank, this instruction is developed according to Federal target program "Dwelling" for 2002-2010 " with a view of expansion of information on hypothecary housing credits, an estimation of volumes and sources of their preschedule repayment ". Central Bank demands from bankers to give information on preschedule hypothecary payments in 2005 and 2006. It concerns as cases when borrower pays credit, and those cases when credit has been extinguished in connection with a concession of rights of requirements. instruction of Central Bank is directed to Ministry of Justice for registration and will come into force in 10 days after publication in " Bulletin of Bank of Russia ".

Though till now there is no centralized statistics how Russians repay mortgage, meanwhile bankers mark, that preschedule payments under long credits have mass character. Domestic borrowers unlike western prefer to pay off as soon as possible with bank and to not stretch this pleasure for 15-25 years. According to bankers, about third of hypothecary credits Russians extinguish ahead of schedule. As first vice-premier Dmitry Medvedev has declared yesterday, this year citizens have received 200 thousand hypothecary credits for construction of habitation for sum 200 billion rbl. " In comparison with last year volumes of involved credits have increased in rub-four times ", - it has declared.

Quite probably, Central Bank is really interesting for finding out, how citizens repay mortgage, and to save up statistics in this sphere. Other reason of such instruction, in opinion of general director Michael Matovnikova's "Interfax-CEA" to define sources of preschedule repayment of mortgage. As is known, recently many banks began to offer services on a morgage - client can receive a loan for preschedule repayment of mortgage. basic advantage of new credit - borrower pays smaller percent, than under first loan. " It is quite possible, Central Bank wishes to find out, how much this mechanism is already demanded by Russians ", - Mr. Matovnikov believes.

However, several years ago, when mortgage yet has not got mass character, it used as a way "not be shone" in tax bodies. Solvent citizens took mortgage, bought habitation, and then quickly it extinguished from means. But formally all same it turned out, that they got apartments on extra money. As is known, down to 2004, according to Tax code, citizens of Russia have been obliged to declare all large purchases and to specify sources of income. Then this norm have cancelled, however now Federal service on financial monitoring has right to inspect charges of citizens in event that it has suspicions about presence of illegal incomes or their washing up. However, in opinion of Mr. Matovnikova, " recently solvent citizens have ceased to use mortgage as a way to avoid steadfast attention of state ".

Source: Info Cash Loan (19.12.2006)

Information.