In Russia, banks have begun to offer customers to buy a reduced rate on mortgages.
Russian banks began to offer customers a reduced mortgage rate or lower interest on the loan for the first three years, but the cost of real estate may be increased, market participants said.
The Central Bank noted that the market continues to spread practices aimed at supporting the short-term demand for housing. It is an opportunity to buy a reduced rate from the bank or reduce the interest on a mortgage loan for the first 2-3 years, raising the cost of real estate, "Izvestia" wrote.
In "Sber" stressed that borrowers have the opportunity to reduce the mortgage interest for the entire term, but in this case it is necessary to make a one-time payment when signing the loan. This service is popular, it used more than 22 thousand people.
If interest is reduced for the first few years, the amount of the payment varies depending on the size of the loan. In some cases, this practice can bring losses to the client. In particular, when the client pays a fee or buys real estate from the developer at an inflated value.