Wednesday, August 23, 2017

Increasing demand for mortgages reported in Sverdlovsk region

The Sverdlovsk Mortgage Lending Agency has published statistics showing an increased demand for mortgages that is approximately $13 million higher in 2011 than in 2010.

Under the general federal program, residents of the region were granted 2,100 loans that totaled $94 million in total. The areas with the most mortgages were the Urals Federal District Sverdlovsk, the Chelyabinsk region and the Khanty-Mansiysk region, JustMedia reports.

"Interest in consumer credit continues to grow and in many ways even more than pre-crisis indicators," SKB Bank said, according to JustMedia. "For example, in SKB-bank portfolio of loans to individuals at the beginning of last year was 23 billion rubles, while under New Year's Eve we celebrated 'taking' of 40 billion abroad. (The) growth for the year - (nearly) twice! Mortgage, incidentally, is also noticeably 'accelerated': interest rates on it now even lower than before the crisis, and prices in the housing market (are) not significantly (growing)."

Credit cards are also gaining popularity as a result of improved offers from the banks.

"(Credit cards) are not very suitable for large purchases - in this case, convenient cash (loans), but the daily cost cards have become indispensable," SKB Bank said, according to JustMedia. "Now SKB-Bank issues credit (cards) as a gift to each customer, get credit for '(Just) about everything.' On this card (there is a) valid 50-day grace period, and the interest rate for non-cash transactions is only 15 percent. Accordingly, if you use the card only in stores, as well as for non-cash payment services in the service area, it will be (a) cheap enough credit product at (a low) interest rate."