Analyst: mass repayment of mortgages is associated with the refinancing of debtors

Earlier it became known that in the third quarter of 2020, the Russians sent a total of 524.8 billion rubles to repay the mortgage. This is a record figure for the Russian market. In July-September, the volume of loans closed ahead of schedule increased by 82.2% compared to the same period last year.

However, Solabuto does not consider this statistic to be positive. Because, in his opinion, the main reason for the record figure was refinancing in other banks. The expert noted that there was a strong decline in interest rates on mortgages, in connection with which many banks are offering on-lending on more favorable terms.

“Banks are poaching debtors. Here, the statistics did not include net positions on mortgages, but the number of closed mortgages. That is, if I refinance, then I get a mortgage in another bank, and close it in mine, then the statistics reflect me as a person who repaid the mortgage ahead of schedule. In fact, I didn't put out anything ahead of schedule”, - Solabuto explained.

At the same time, RBC, citing data from the Central Bank, reports that 83.3% of early payments fell on clients' own savings. And with the help of refinancing, only 3% of loans were closed.