The XXI All-Russian Conference "Mortgage Lending in Russia" was held in Moscow on March 28, 2023. The organizer of the conference is AK&M Agency. The partner of the conference is GC "A101".
The topic of housing affordability became the focus of attention of the gathered experts at the plenary discussion, which was attended by the chairman of the State Duma Committee on the Financial Market Anatoly Aksakov, head of the analytical center DOM.Mikhail Goldberg, Director of the Department of Banking Regulation and Analytics of the Bank of Russia Alexander Danilov, Deputy Director of the Department of Financial Policy of the Ministry of Finance of Russia Alexey Yakovlev, Chairman of the Commission on Urban Planning, State Property and Land Use of the Moscow City Duma Elena Nikolaeva, Head of the Department of Housing Programs of the Department of Rural Development of the Ministry of Agriculture of Russia Daria Ryabukhina, President of the Foundation "Institute of Economics of the City" Nadezhda Kosareva, Managing Director - Head of the Real Estate Financing Department of Sberbank PJSC Svetlana Nazarova, Executive Director for Work with Partners of the Domclick Division of Sberbank Dmitry Chernov, Head of the Mortgage Products Department of DOM Bank.Russian Federation Igor Rudenko, Assistant Head of the Department of the Federal Register for Moscow Daria Kudinova, Head of the analytical center "Indicators of the real estate market IRN.RU " Oleg Repchenko.
During the plenary discussion, M. Goldberg presented the results of 2022 in the mortgage lending market and the expected results in 2023. The share of mortgages in the structure of the total debt of individuals to banks has confidently exceeded 50% and continues to grow further. At the same time, loans with state support accounted for about half of the issuance of the entire mortgage in 2022. Preferential and family mortgages have become the undisputed leaders. It is assumed that after the expansion of the family mortgage terms, this product will come out on top in 2023. According to forecasts, the HOUSE.In the Russian Federation, the expected volume of mortgage loans in 2023 should remain at the level of 2022 and will amount to approximately 4.9 trillion rubles. At the same time, the share of loans with state support will also remain at the level of 45% of the total volume of mortgage loans.
M. Goldberg also drew attention to the prospects for the development of integrated residential housing in the country, which is a structural growth point for the residential real estate market, and to the expansion of opportunities for using mortgage lending tools when buying individual housing.
The participants of the discussion noted a significant increase in prices for primary real estate and a decrease in the level of housing affordability since the beginning of 2020. A price correction is needed, and banks need to pay more attention to risks when lending to mortgage borrowers who purchase housing at inflated prices. After all, in this case, the bank's collateral turns out to be housing that does not correspond to the market price.
A.Danilov outlined measures to address the current situation, which will take effect from May 1, 2023. We are talking about increasing the provision for loans, the full value of which is significantly lower than the market level. In particular, such a measure will be applied if the bank issues a mortgage loan without state support at a rate of less than 8.3% per annum, a preferential mortgage at a rate of less than 6.3% per annum, a family mortgage at a rate of less than 4.3% per annum. Also, from May 1, macro allowances are introduced to cover risks when issuing mortgage loans with a minimum down payment, since the real LTV for such transactions is greatly underestimated, taking into account the inflated cost of the purchased housing. Accordingly, increased surcharges are introduced for loans with a down payment of 30 percent and below. At the same time, the Bank of Russia provides for the cancellation of these measures at a time when the market situation will improve and real estate prices in mortgage transactions will return to normal.
A.Aksakov, in turn, informed about another planned initiative that will be implemented by the committee in the near future. The State Duma will consider the possibility of writing off mortgage debt from the borrower after the forced sale of housing at a price less than the price fixed by the bank when issuing the loan. Thus, all the risks associated with the issuance of mortgage loans for the purchase of real estate at an inflated price will fall on the banking sector.
The moderator of the plenary discussion was traditionally Valeria Mozganova, head of the Real Estate direction of Radio Business.FM .
Thematic discussions were also held within the framework of the conference:
• Affordable housing of the future.
• Digitalization of the mortgage lending system.
• Individual housing construction program.
The practical sessions were attended by: Mikhail Viktorov, President of NOTIM, Head of the Commission on Digitalization of the Construction Industry of the Public Council under the Ministry of Construction of Russia, Oleg Komlik, Deputy Managing Director of DOM.RF JSC, Director for Sustainable Development and International Cooperation of DOM.Marina Slutskaya, Vice President, Member of the Board of NOSTROY Anton Moroz, Deputy Head of the Department of Strategic Development and Digital Transformation of Rosreestr Nikolay Zaimentsev, Adviser to the Director of the Department of Strategic Development of the Financial Market of the Bank of Russia Elena Tchaikovsky, Head of the Department of Implementation of Housing Programs of the Department of Rural Development of the Ministry of Agriculture of Russia Daria Ryabukhina, CEO of ANO "Smart Apartment Building" Nikita Utkin, Director of implementation of digital services of GC "A101" Tatiana Feinblit, General Director of the ecosystem "Square Meter" Vyacheslav Dusaleev, head of the project "Smart Home" of the group "Airplane" Anton Tarashchansky, head of the strategic partnership direction of GC "Etalon" Ivan Tyagin, Chairman of the OMOR Committee "Russian Union of Builders" on interaction of developers and homeowners Violetta Basina, Director of the Housing Development Division of DOM.RF JSC Evgeny Kvasenkov, Head of the Residential Housing Division of DomClick PJSC Sberbank Valentina Markina, Deputy Director of the Retail Business Department of Rosselkhozbank Oleg Korkin, Director of the Mortgage Lending Department of KASKAD Family Anastasia Bychkova, Managing Director ofAirplane House" Ivan Vinogradov, President of the Federation of Housing and Communal Services Ramil Usmanov, CEO of Puzzle PropTech Alexey Gorulev, Marketing Director of Profitbase of the Artsofte Group of Companies Artem Lesnikov, Commercial Director of Technocode LLC Vladislav Anisimov, SmartDeal Development Director Mikhail Svetlyshev, Product Director Transaction.Russian Federation Maxim Sergeev, CEO of FAST.Mortgage Innokenty Lukyanov.
The practical session "Digitalization of the mortgage lending system" this year was held in partnership with Technocode and the SmartDeal project.
The possibility of accessing the conference recording is open on the conference website.
