OREANDA-NEWS Major Russian banks are considering ways to support mortgage lending in the face of high interest rates. According to RBC, some lenders for this purpose are going to offer new borrowers more options to reduce rates in the future. In fact, we are talking about a simplified restructuring. According to the experts, in order to do this it will be necessary to change the standard mortgage contracts.

A number of banks said that they are considering the launch of mortgage products with the possibility of lower interest rates in the future. Such options are being considered by "Dom.fed" and VTB. Promsvyazbank (PSB) also oriented its clients towards the possibility of refinancing a mortgage on more favorable terms.

Zenit bank has already begun to spell out a clause in new mortgage agreements to reduce the interest rate for a borrower if certain events occur. If market conditions improve, the client will be able to apply for a review a year after registration of the loan. During the entire period of the loan he would have the opportunity to ask the bank to lower the rate three times.

According to the experts questioned by the publication, in fact we are talking about a simplified restructuring under certain conditions. They do not exclude that such practice may be spread among the banks in the conditions of reduction in the number of solvent borrowers. At the same time, they think that although the new approach will have a favorable effect on the mortgage demand, people will not take advantage of it en masse.

Deputy Chairman of Absolut Bank Anton Pavlov said that the credit institution is not developing any softening options for regular borrowers, because the current market situation is temporary, and in 6-12 months it will be possible to return to the standard mechanisms of reviewing the conditions.

Earlier, the government proposed April 1 to increase the rate on concessional mortgages from 7% to 12% and increase the maximum loan amount. However, the authorities also expect to maintain the preferential rates for family, Far East and rural mortgages. Both proposals were supported by President Vladimir Putin.