VTB increased the issuance of mortgages in May by a third

In May, VTB issued mortgage loans by 62.4 billion rubles, increasing sales by a third compared to May 2019, the volume of May sales is comparable to the pre-crisis value of February, one of the main factors that helped restore demand for the mortgage was the state support program with a rate of 6 , 5%, the press service of the bank.

“In May 2020, VTB issued 24.7 thousand mortgages by 62.4 billion rubles, increasing sales compared to May 2019 by 34.5%. The sales volume is already comparable to the result of February this year (63 billion rubles) and 7% exceeds the April figures (58.3 billion rubles), “the report said.

At the same time, a record month in terms of issuance this year remains March, the bank said.

Since the beginning of the year, the volume of VTB mortgage loans has reached 311.4 billion rubles. One of the main factors that helped restore demand for the mortgage was the state support program with a rate of 6.5%. According to the results of April-May, VTB customers have already completed over 8.6 thousand mortgage transactions worth 25 billion rubles. In the total volume of bank issuance, it occupies 29%. Every second mortgage with state support in Russia is issued by VTB.

“The mortgage market is recovering from the pandemic faster than other segments of consumer lending. VTB did not reduce sales compared to last year even in April, and in May we resumed intensive business growth,” comments Evgeny Dyachkin, deputy head of the VTB retail business department.

According to him, the self-isolation regime that persisted in many regions in April-May accelerated the launch of digital mortgage products on the market: in the spring, VTB conducted completely remote mortgage transactions – the new service was used by residents of Moscow, St. Petersburg, Tyumen, Novorossiysk.

“This project will continue to expand on our network, as the ability to buy an apartment without leaving home should be retained by citizens even after lifting restrictive measures,” Dyachkin emphasized.

The mortgage program at a rate of 6.5% for the purchase of standard housing in new buildings was launched in the spring on behalf of Russian President Vladimir Putin, it will be valid until November 1. The 6.5% rate is maintained for the entire loan term. The program applies to housing loans of up to 8 million rubles in Moscow and St. Petersburg and up to 3 million in other regions of the country.

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source: rambler

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