Family man: what does a mortgage lender look like in Russia
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A family man over 35 years old with a higher education – such a portrait of a mortgage borrower was compiled by analysts from DOM.RF, who conducted a joint study with VTsIOM.
The survey showed that most often a loan for the purchase of housing is taken by people who are employed in the fields of industry, construction, trade, education, medicine, etc. Mortgage is most in demand among representatives of the middle class – families who can easily buy large household appliances and furniture, but not housing. 23% of borrowers in 2022 have a high debt load: their mortgage payments amounted to 50% of the total family income. At the same time, two-thirds of mortgage borrowers spend no more than 30% of their income on loan payments.
“We get the most accurate data that allows us to identify patterns, analyze trends, for example, that the age of a borrower in Russia has increased, but at the same time, they have children twice as often as the national average. Based on opinion polls, we assess the risks in terms of demand, develop mortgage products and current state support programs,” commented Vitaly Mutko, CEO of DOM.RF.
Usually the borrower is well educated, 77% of the total number of mortgage loan recipients are people with higher education. Besides, he has a family. Last year, mortgage holders had children on average twice as often as in Russia as a whole. However, the share of borrowers who do not have a single child in the family increased by 5%.
Almost half of mortgage bank customers are young families under 35 years old. However, the trend towards an increase in the average age of the borrower is becoming apparent. Over the past 5 years, a typical mortgage loan recipient has “grown up” by 4.5 years (from 33.2 to 37.8 years).
Let’s add, depending on the market – primary or secondary – the amount of the loan is on average 5 million and 3 million rubles, respectively, the average mortgage payment was at the level of 26-28 thousand rubles per month. At the same time, a third of loans are for new buildings.
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