Bought an apartment on credit - THEN YOU HAVE a REASON to be NERVOUS!!! - News about real estate, Kiev, Kyiv region. Real Estate In Ukraine
The owners bought on credit apartments are confused: many of them in recent days has received notifications from banks that interest rates on...The increase in interest rates on the mortgage does not stopThe owners bought on credit apartments are confused: many of them in recent days has received notifications from banks that the interest rate on previously concluded mortgage contracts revised. Naturally, in the direction of increasing. In different banks the rates have changed varies from 1.2% to 8%. But the trend is evident.Thus, starting with the essential rise in price of newly issued loans to purchase housing, domestic financial institutions have come to the revision of interest rates on credits already.Bankers explain this state of Affairs is primarily the deterioration of the economic situation in the country; inflation, which for the first half exceeded 15%, and the tough policy of the National Bank of Ukraine, consistently attempted to limit the issuance of commercial banks risky loans.But anyway, in this situation, the borrowers are certainly not to be envied. However, those who had taken a loan for purchase of housing in U.S. dollars, are a bit easier: ironically, the rate in foreign currency rose by less than in UAH. So in the defeat was the borrowers who opt for a significantly strengthened national currency (and there are lots of them, because for the last six months the number of mortgage loans in UAH increased twice). Besides, some banks are primarily small deficit of funds, suddenly raised the stakes of the "old" mortgage hryvnia loans to 28-30% even in the presence of liquid security...However, as reasonable to say the experts, the shortage of hryvnia resources forced to revise lending policies almost all financial institutions вЂ“ from small to large. The first step there was a significant improvement in terms of attracting deposits. For example, the yield on hryvnia deposits in recent months has increased by 2-4%, on a currency вЂ“ 0.5 to 1.5 percent. And while not all banks announced the increase of credit interest rates on old loans to avoid this, apparently, is unlikely even the largest financial institutions-operators of mortgage lending. Therefore, according to the forecasts of bankers, mortgage rates will continue to rise for all customers вЂ“ both old and new, especially in UAH, which banks are short.However, among the disgruntled borrowers already heard a rumor that the real reason for the growth of credit rates on loans is not fighting inflation, and the banal conspiracy of bankers: they say, they first low stakes has attracted a lot of customers, and then played together on the rise. But bankers strongly reject such accusations, arguing that the cost of money is now significantly higher than it was when the financial institutions were active in the campaign.So now the borrowers that the banks are "unobtrusive" are forced to spend more on servicing mortgage loans, the selection is small.