FEATURES OF MORTGAGE LENDING IN MODERN RUSSIA AND ABROAD

Abstract

Mortgage lending in Russia, in comparison with Western Europe and the USA, received its formation in its modern form only at the end of the twentieth century, which is mainly due to political instability and economic crises in our country. This segment of banking services has been influenced by various external effects at the present stage (crises, sanctions), which indicates the imperfection of the Russian mortgage lending system and the need to improve it in the future. Thus, the measures of preferential lending carried out by the state in recent years can serve as a demand for mortgage loans among the population. The Russian mortgage lending market at this stage is characterized by an increase in the number of mortgage loans issued, and, in particular, the predominance of state-owned banks (Sberbank and VTB occupy the leading positions) in the total volume of loans issued. The article examines the features of mortgage lending in Europe, the USA and China, the main trends in the pandemic period and future prospects for our country, analyzes mortgage lending systems in the above-mentioned countries based on data on interest rates, housing costs and other factors.