VTB raises base mortgage rates by 2.4 percentage points. – Kommersant
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VTB Bank decided to increase rates on market mortgage programs by 2.4 percentage points from November 1, 2023. As the press service of the financial organization said, now the minimum rate, taking into account all discounts, will be 16.4% per annum.
“Base rates for standard programs are increasing by 2.4 percentage points. The new parameters apply to the purchase of finished housing, housing under construction and refinancing. With comprehensive insurance and an initial payment of more than 20%, the minimum rate will be 16.5% (for salary clients of the bank); for borrowers who are ready to transfer their salary to a VTB card – from 16.4%,” says the bank’s message (available to Kommersant).
The press service of the credit institution added that approvals for mortgage applications received before October 31 will be valid until December 14.
It is clarified that VTB decided to increase mortgage rates after the Central Bank on October 27 raised key rate from 13 to 15%. This was the fourth increase in the key rate in a row. Prior to this, it was increased on September 15 from 12% to 13%.
Read more about the regulator’s decision in the Kommersant article. “Race with inflation”.
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