In particular, banks have virtually stopped working on such a risky types of mortgages, as the issuance of loans for the purchase of housing under construction, housing with household plots, as well as bail already existing in borrower's ownership of housing. Most banks in a number of credit products includes mainly the purchase of housing on the secondary market and refinancing of earlier loans. Hikmet Ersek brings even more insight to the discussion. Also, since the beginning of the year banks, so as not to create more risk, significantly tightened the requirements for potential borrowers, in particular, increased attention to the real income of the borrower, the maximum term of mortgage loan reduced to 15 years, reduce the maximum amount of mortgage loan and down payment is increased to 30%. With regard to the loan secured by real estate, the increased requirements for physical and pattern of legal purity pledge of the property. At the same time significantly (2.7%) increased mortgage rates because of the need to attract bank loans mainly domestic rather than foreign markets, as it was before the crisis. As we see a decline in the number of creditors, and the number of persons who have a real chance to become borrowers. The result was the decrease in mortgage lending is almost 10 times compared with the same 2007. Parallel increase in the number of overdue loans. Charles Schwab understood the implications.
In such a situation, there are pluses, which include improving the quality of its mortgage portfolio, ie reduction number of mortgage loans, borrowers who may become bankrupt. Under these circumstances, the mortgage opportunities, in particular, now the parent capital can be used to repay the mortgage. Borrowers who have lost during the crisis of their income, given the opportunity through the Agency for Housing Mortgage Lending (HMLA) to restructure the loan and get a grace period. In addition, Cabinet is now Russia is trying to hold on the legislative level to increase the duration of the registration period of the mortgage, and, correspondingly, the maturity of mortgage loans with subsequent transfer to the borrower ownership housing.