What factors allow banks to compete
There is another factor thanks to which banks with their own mortgage programs have the opportunity to compete with AIZHK partners.
After all, AIZHK partner banks, they take additionly from borrowers for the issuance of the mortgage, the commission equal to 1-3% of the loan amount. “Therefore, in order to buy a one -room apartment for example, it is sometimes more profitable to get a mortgage in a commercial bank, even more than overpaying for a commission and for issuing a loan according to the standards of AIZHK,” explains Alexander Vevelevich. According to the expert, despite the fact that in terms of the so -called classic mortgage AIZHK some competitors, the agency’s programs are not covered by the entire mortgage market. Therefore, commercial banks can hold a significant resource without abandoning their own bets and without reducing them after AIZHK.