In Russia, the debt burden of mortgage borrowers is growing: eight out of ten Russians who took out a mortgage in the second quarter of 2023 already had a consumer loan. For comparison, a year earlier six out of ten borrowers had such a loan. Such data is contained in the Central Bank study “Analysis of trends in the retail lending segment based on credit history bureau data” for the first half of 2023, writes RBC.
In addition, according to the regulator, for the fourth month in a row, the number of borrowers who have at least one unsecured loan in addition to their mortgage is growing. In January – June their number increased by 12%. The share of such mortgage borrowers in the total number reached 46% (plus 5 percentage points per year).
In addition, the number of borrowers who, before receiving a mortgage, took out a consumer loan in the amount of over 100 thousand rubles has increased. “Such consumer loans could be used as a down payment on a mortgage,” the study explains.
At the end of the first half of this year, the share of borrowers who could take out a consumer loan for a down payment amounted to 6.2%. This compares to 5.7% of such borrowers in the fourth quarter of 2022. It is noted that the Bank of Russia plans to discuss with banks approaches to assessing borrowers who take out consumer loans for a down payment on a mortgage.
Source: Rosbalt
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