The preferential mortgage program was extended to individual housing construction. The loan rate should be no higher than 7%, as well as for apartments. The cost of a mortgage loan with state support should not exceed 3 million rubles, an initial payment of at least 15% of the cost of housing. You can take out a loan to build your own house or buy a finished house from a developer.
Until now, those wishing to build their own house, as a rule, had to take out a consumer loan, the rates for which are much higher. A preferential mortgage on individual housing construction will save up to 30% on monthly payments, Vitaly Mutko, CEO of DOM.RF, noted earlier.
According to opinion polls conducted by VTsIOM and DOM.RF, now only 30% of 62 million Russian families live in their homes. At the same time, another 23 million families dream of moving into their own homes. However, until now, the development of the suburban segment was hampered by difficulties in obtaining a mortgage for the construction of housing or the purchase of a house. Houses are often built by random teams or by their own hands, it is difficult for banks to assess their quality and determine the collateral value. Therefore, banks were reluctant to lend to suburban construction. In the total volume of mortgages, the share of loans for individual housing construction has so far been only about 2%.
Until now, the interest on mortgages on private houses was quite high, the borrower had to have a lot of income to get such a loan. This markedly limited the number of potential home buyers, says Semyon Goglev, director for strategic development of the Association of Wooden Housing Construction. Now the potential consumer will feel less risks to feel, the number of people willing to build a house will increase and the production of house kits may increase significantly.
“Preferential mortgage for individual housing construction is an excellent solution,” emphasizes Maxim Lazovsky, owner of the building company “House of Lazovsky”.
The main problem of mortgages on individual housing construction was not that it was “insufficiently preferential,” but that it is still practically not issued for houses under construction, says Olga Magilina, deputy general director of KASKAD Real Estate. “Already about 70-80% of potential buyers of single-family cottages would like to do this with the attraction of mortgage funds, but lending is possible only in a limited number of new-build projects. And, of course, it would be great if, following full access to mortgage lending, a mass buyer of individual housing construction would also receive conditions at the level of the conditions of buyers of apartments in high-rise buildings, “she said.
To simplify the registration of mortgages for private houses, recently the Ministry of Construction and DOM.RF held a competition for standard designs of individual houses. The winning projects can be used free of charge. Since the projects were developed by professionals, their quality, building materials, approximate construction time are known, it will be easier for banks to evaluate them when applying for a loan. A beta version of the superservice build.dom.rf has been launched – through it, those who want to build a house can choose a project, a contractor, and send an application for a mortgage. The list of projects and participating banks will be replenished, they promise in DOM.RF.
The spread of preferential mortgages for individual housing construction is interesting for both the market and manufacturers, says Vera Vavilova, board member of the Association of Wooden Housing Construction, general director of DDM-Stroy Vera Vavilova: “Every project that we do is individual. Execution of a standard project is no different from manufacturing any other project “.
Anastasia Bychkova, director of the mortgage lending department of the KASKAD Family, believes that the demand for individual housing construction will increase by 2-2.5 times when extended to the segment of preferential mortgages. At the same time, in regions with expensive housing, this will not be so noticeable due to restrictions on the cost of a loan – houses with a land plot worth even 4.5-5 million rubles in Moscow and the region, for example, are practically not found.
Demand will grow by 10-15% in the short term due to the excitement and by 10% in the long term, Lazovsky said. A home buyer expects an average budget of about 8 million rubles, he says. The amount of preferential mortgages is not large, but if the issue of a mortgage for a land plot, which has not yet been sufficiently developed, is resolved (only three banks offer such loans with a greatly understated loan amount), then the number of individual houses under construction will increase dramatically, he notes.
Experts are not afraid of a shortage in the market. Now there are enough developers who are engaged in individual housing construction, and their number continues to grow, therefore, with an increase in demand, there will be enough supply for everyone, Bychkova is sure.
As market participants assure, the appearance of preferential mortgages on individual housing construction will not provoke an increase in house prices. Prices for building materials have stabilized and only external factors and the situation with the coronavirus can be prerequisites for their growth, Lazovsky says. “The rise in prices, in my opinion, will remain within the 5-10% inflationary corridor. The client will no longer be able to cope with the mortgage and our own decrease in marginality,” he says.
In the autumn session, it is planned to submit to the State Duma a bill that will allow the introduction of project financing in IZHS. Then the buyer who has invested in the construction of his home through a developer company will not risk money. By analogy with the purchase of an apartment in a high-rise building, the contractor will receive the amount only after the construction of the house is completed. This will be another step towards increasing the volume of construction of private houses.