Mortgage may become more beneficial for trustworthy borrowers

Trustworthy borrowers can get the right to a mortgage at reduced interest rates - for this, the Ministry of Finance has planned to develop an appropriate draft law.  It is assumed that the document will establish the possibility of obtaining access to customer credit histories during securitization.

Such a right is planned to be granted to Dom.RF.

The Ministry of Finance hopes to simplify the process of issuing mortgage bonds in this way - the current situation should increase the amount of free funds in this area.

It is assumed that this will provide an opportunity to reduce mortgage rates for trustworthy borrowers, Izvestia reports.

It is worth noting that such a tool is already functioning, but with one difference - Dom.RF does not have access to information about borrowers' credit histories and, as a result, the ability to fully assess the risks.

The Ministry of Finance is confident that the new instrument will, on the one hand, reduce the cost of securitization, and on the other hand, speed up the transaction procedure. Additionally, it is expected to improve the quality of mortgage loans themselves. Work on the bill should be completed by February next year, at the same time, it is planned to be submitted for consideration to the lower house of parliament.