The Russians called the reasons for the refusal of the mortgage.

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Date: 12 September 2022 Time: 23:42:51

Russians cited the existence of their own home as a reason for refusing mortgages.

The main reason cited by the majority of Russians for refusing to apply for a mortgage is to buy their own home. They measured it in a Public Opinion Foundation (FOM) survey, RBC reported.

29 percent of those surveyed do not want to take out a mortgage because they own their own home. 13 percent cited employment issues as a reason for rejecting such loans. Those who believed high interest rates on loans and those who did not believe in this method of acquiring real estate felt six percent each.

Four percent of Russians called mortgaged goods a “many-year obligation.” Of those surveyed, one percent said they couldn’t get a mortgage because of their age. Equally many people consider buying real estate on credit as a risky venture and unaffordable, as they are not sure of the near future.

In February 2022, real estate experts said that difficulties in obtaining a mortgage in Moscow in 2022 may arise for entrepreneurs of newly opened businesses, employees of the service sector and restaurant businesses. Couriers, private security firms and auto repair shops have also predicted difficulties in buying a home with a mortgage.


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