SberBank: Mortgages in Russia mostly taken out by spouses under 40

According to DomClick, in 1H21 home loans at SberBank were mostly taken out by borrowers who are officially married and are aged between 30 and 40 (49.8%). In 2020, the metric stood at 49.2%.

In case of 14.9% of mortgages, borrowers are under 30 and they are married. The share of home loans taken out by spouses over 40 stood at 35.3% in Jan-Jun 2021, up from 34.9% in the same stretch last year.

Married Russians account for nearly 40% of all mortgages these days, while families with underage children account for almost one-fourth. Moscow and Krasnoyarsk Territory is where families have taken mortgages most often this year.

Both the government and Sberbank pay much attention to families seeking to improve their living conditions. In 2021, the state support program targeting families with children has seen 16,685 loans reaching RUB 59.6 bn, which is twice the size y-o-y. Nearly 84,000 families have taken advantage of our Young Family promotion in 2021, which is a 50% increase since the first half of 2020. I'd like to take this opportunity to say that Family Mortgage, a soft mortgage program for families with children, has been recently extended to cover borrowers with firstborn children. The list of support measures goes on.

Alexander Vedyakhin

First Deputy Chairman of the Executive Board, Sberbank

SberBank programs for families:

- state-assisted mortgages for families with children

- lower rates on current mortgages for families with children

- promo for young families - 0.4% mortgage rate discount

- a mortgage + maternity capital

- RUB 450,000 subsidy for big families with mortgages.

According to DomClick, SberBank issued 2.1 times more mortgages in terms of size and 70% more in terms of number between January and June 2021 than in the same period the previous year. In the first half of 2020, over 299,200 mortgages amounting to RUB 632.5 bn were issued, while in the first half of 2021, those figures were 507,100 and RUB 1.3 tn.