In Kazakhstan can cease to give out a mortgage
It is possible that in the near future the Kazakhstan banks will refuse mortgage programs. The matter is that today it became simply unprofitable to issue the credits for apartments, the vice chairman of the board of National bank Marat Almenov declared to kapital.kz.
According to him, loans for a period of 20–30 years and their repayment with rather large monthly payments with a high annual rate from 20 % became heavy burden for the Kazakhstan borrowers.
He explained that there are two major factors influencing the decision of bank on issuance of credit — it is solvency of the borrower and providing on a loan. However at the moment solvency of Kazakhstan citizens decreases, and banks can not always withdraw mortgage real estate on a problem loan.
Marat Almenov, vice chairman of the board of National bank
— Let's look at solvency of the population of Kazakhstan, it fell. Salaries at Kazakhstan citizens decreased, someone in connection with crisis transferred to the four-hour working day, the salary in proportion to devaluation of tenge didn't grow. Thus if the mortgage real estate at the borrower is the only housing, it can't be sold. Though, in fact, at deterioration of a condition of the borrower banks have to withdraw pledges and realize.
Almenov added that today banks can't sell real estate extra judicially. However during compulsory legal proceedings charge of percent and penalties on the credit of the borrower is frozen. And it is absolutely on legal grounds.
— The banks in this case sustain losses. If it is impossible to sell the only real estate which is supported to the credit, how banks can give out a mortgage? — Almenov noted.
Besides the speaker paid attention that the unstable situation with real estate prices demotivates banks even more to provide a mortgage.
— The cost of apartments changes depending on the region. Recently we see that prices for apartments fall. That is tomorrow banks at withdrawal of real estate at the borrower can not cover even expenses on a principal debt — shared opinion of the vice-president of board of National bank.
The speaker noted that programs for restructuring of the credits are unprofitable to banks and are semi-social projects. Almenov also told about refinancing of a mortgage, having noted that only in National bank a share of borrowers who don't repay the loans, having some apartments and sites, makes about 20-30 %.
— We have three categories of clients which periodically picket bank and demand to write off debts on the credits. The first category — is those borrowers who really have the only housing, some of them treat group socially vulnerable, jobless, having many children. They want to repay the loan, but can't. The state program of refinancing of a mortgage is designed for them. The second category — is borrowers who have some real estate objects in property, but ask to remit them debts. The third category — people who aren't clients of bank, simply come to meetings — Almenov told.
We will remind, not so long ago near head office of National bank I passed pan meeting of barrowers, and near Kazkommertsbank people in general dressed gray loose overalls, to death having frightened passersby. Protesters more than an hour picketed buildings, demanding a straight talk with the management of banks.
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