FAS has received complaints about banks planning to limit the issuance of prime mortgages and introduce commissions for developers. The antimonopoly service did not specify whether they came from citizens or legal entities, for example from the promoters themselves, Izvestia reports.
BGP Litigation competition law practice partner Irina Akimova said a case could be brought against the banks under the Law “On Protection of Competition”. Charging commissions to developers for the execution of preferential mortgages can be considered as imposing unfavorable contractual conditions, which could lead to a fine of 2.5 to 5 million rubles.
In addition, the FAS can evaluate the actions of banks with a view to concluding anti-competitive agreements that lead to market division, said Aleksey Vyruchaev, a partner at the Yukov and Partners law association.
Previously, Sber, VTB and Alfa Bank announced plans to issue mortgages under state programs only if they purchase housing from their partners.
Other banks may also introduce commissions on preferential mortgages for developers, warned Yulia Arkhangelskaya from the Mangazeya company. According to her, this will affect the cost of housing. The lenders essentially passed on the lost compensation to the developers.
- In 2024, the Central Bank will tighten the requirements for banks to issue mortgages. Starting March 1, risk premiums on mortgage loans will increase. The regulator explains this step by the need to “limit citizens’ debt risks.”
- As of November 1, 2023, the debt burden of Russian citizens amounted to 34.8 trillion rubles. As the Central Bank clarified, 60% of the loans were mortgages backed by preferential programs.
Author:
Karina Pardaeva
Source: RB
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