The Central Bank explained that the main goal of increasing the down payment on a mortgage is to prevent borrowers from falling into debt, and emphasized that the down payment is an important indicator of the financial discipline of citizens.
Associate Professor of the Department of Political Science at the Financial University under the Government of the Russian Federation Gevorg Mirzayan expressed his opinion on a possible increase in the down payment on a preferential mortgage. The expert pointed out that increasing the starting threshold could complicate access to preferential mortgages. He emphasized the importance of analyzing different categories of preferential mortgages intended for different groups of the population, such as young families and IT workers. On the other hand, Mirzayan noted that such a step could lead to stabilization of the market, since preferential mortgages, as a rule, apply to housing in new buildings, and oversaturated demand with a small down payment leads to an increase in prices for new housing, which is disproportionate to the cost of the secondary market, writes IA RuNews24.ru.
He expressed the opinion that to solve the problem it is necessary not only to increase the down payment, but also to expand preferential mortgages for secondary housing. Such a step, according to the expert, will help avoid distortions in the cost of housing and prevent abuse by developers.
Answering the question of what citizens should do in conditions of unstable real incomes, Mirzayan called for finding a compromise. He emphasized that, despite the difficulties, the down payment is still necessary.
Source: Rosbalt
Mario Twitchell is an accomplished author and journalist, known for his insightful and thought-provoking writing on a wide range of topics including general and opinion. He currently works as a writer at 247 news agency, where he has established himself as a respected voice in the industry.
