The decision on a mortgage can be made if the monthly payment on it does not exceed 25% of the family budget, said Deputy Finance Minister Mikhail Kotyukov at the “Mortgage Marathon”.
“If this payment will take more than a fourth of your family budget, it is worth thinking once again, how much we can cope with this situation,” said Kotyukov (quoted by TASS). If the amount of the monthly installment is critical for the family budget, then it makes sense to refrain from a loan or consider an object with a lower cost, he noted.
“If we understand that this amount is lifting today, and our work is stable, and our income is sufficiently guaranteed, the state of health inspires optimism, of course, this decision can be safely taken,” the deputy minister explained. Before deciding on a mortgage, he recommended starting to set aside the estimated amount every month in order to assess your financial capabilities.
Earlier, Deputy Minister of Economic Development Ilya Torosov said that the level of debt load of Russians is low compared to other countries, it is less than 20% of GDP. He noted that the borrower should deliberately increase the debt load in order not to fall into a “debt hole”. In May 2021, Ksenia Yudaeva, Deputy Chairman of the Central Bank, reported that the level of debt load of the population had reached a historical maximum, and “bubbles” had appeared in certain segments of the consumer lending market.
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