Over 50% of Mortgage-Payers Aren’t Eligible for ‘Repayment Holiday’

9 April 2020 (09:03)

UrBC, Moscow, April 9, 2020. More than a half of Russians with mortgages and car loans won’t be eligible for a ‘loan repayment holiday’ because of the limits set by the Russian Government, Kommersant refers to the United Credit History Bureau’s data as indicating.

According to the Bureau, only 49% of mortgage-payers and 45% of people with car loans will be able to apply for a loan break; this amounts to 2.5 million mortgages and 700,000 car loans, respectively.

Overall, things look better for credit card holders and people with consumer loans, where 90% (45 million loans) and 75% (32 million loans) of borrowers, respectively, will be eligible for a break.

Under the Russian Government’s decree, the eligibility limit for a mortgage has been set at RUB 1.5 million; that for a car loan at RUB 600,000; that for a consumer loan at RUB 250,000.

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