Kazakhstan   REAL ESTATE MORTGAGE LOANS BANKS
The curious situation has developed in the Kazakhstan market of hypothecary crediting. A part of commercial banks of republic declared the moratorium on mortgage delivery, the part was toughened by conditions of reception of means for real estate purchase. But at the same time there are also such financial institutions which have returned to pre-crisis credit conditions of the population. Here it is necessary to make the reservation is concerns only financings of clients of the building companies served in the same banks.

Rates: to grow it is impossible to leave. Who will place punctuation marks?

Today it is impossible to receive the mortgage in LaribaYoBanke, Danabanke, probably, as in some other as not it was possible to phone to all credit departments of the Kazakhstan banks. Under some informal data, it is possible to switch on Temirbank in this list and the Euroasian bank. Íóðáàíê finances the population only under the state program.

And Kazkommertsbank, for example, opposite, declared decrease in rates under hypothecary credits to 13,5 % annual for the clients, wishing to buy habitation in the primary market from a number of the building companies, whose reliability does not call doubts. It is expected that shortly on the same step Bank TuranAlem will go also. At least, today compensation rates on ýêñïðåññ­êðåäèòàì in ÁÒÀ have already returned on pre-crisis level. Whether rates towards fall on the mortgage for habitation purchase in the secondary market of the real estate, while in doubt will be reconsidered.

Updating of conditions of hypothecary crediting in Kazakhstan, as it is known, became a consequence of crisis of liquidity in the world financial market. It has served as the reason of that in the middle of August almost all domestic banks have toughened conditions of delivery of any credits, and first of all it has concerned mortgages. Now, to receive means for real estate purchase, 30 % from its cost are necessary to have at least. However, in some banks it is possible to manage and without it, but in that case it is necessary to give as a deposit any other real estate which cost should be equal at least or even to exceed the sum of the given out credit. But, even possessing money for an initial payment or the real estate for pledge, not the fact that the client will receive the positive decision of bank. Thus the bank can not explain the reason of the refusal. The negative decision of bank is only one party of a medal, on its other party – sharply increased quantity îòêàçíèêîâ from credits already approved by bank. It is obvious that some part of potential borrowers has decided to wait and look, as in the near future there will be a situation with correction of the prices in the real estate market. Nobody wishes to become the owner «small cancers, but on five when there is a hypothetical possibility of purchase big, and on three».

By estimations of Natsbank of Kazakhstan, for the end of June of this year from total amount of the given out credits in 6,5 billion tenge in building and habitation acquisition it has been allocated an order of 750 billion tenge. Just the volume of the given out loans has increased in the first half of the year 2007 almost on 40 % in comparison with the similar period of last year. As a whole the credit boom, observed the last some years, has led to growth of an external debt of commercial banks from 70 % in 2005 to 95 % from gross national product in 2006. As a result, when in the capital world markets liquidity crisis has burst, domestic banks have experienced difficulties with refinancing before the taken loans, as was reflected in toughening of credit conditions in home market. Today heads of commercial banks declare that the moments dangerous to a financial system passed.

It is a pity that it is not believed by analysts of rating agency Standard and Poor’s. So, on December, 11th the agency has once again changed the forecast on a credit rating of the counterpart with “Stable” on “Negative” on eight Kazakhstan banks. Into this list have entered: joint-stock company “Kazkommertsbank”, joint-stock company “Bank TuranAlem”, National bank of Kazakhstan, joint-stock company «the Alliance Bank», joint-stock company “Teìiðáàíê”, joint-stock company «Hypothecary organisation BTA the Mortgage», joint-stock company “Íóðáàíê” and joint-stock company «Euroasian bank». As they say in message Standard and Poor’s, the data «rating actions reflect fears in connection with growing negative influence of a difficult situation in the market on quality of actives and liquidity of the Kazakhstan banks in spite of the fact that they could overcome the difficulties which have arisen at the very beginning of global crisis of liquidity, thanks to competent management of actives and passives». In one offer experts have reflected also successes of commercial structures on crisis overcoming, and the fears. Have sweetened a bitter pill … Now after that actions of the authoritative financial organisation can be expected that loans for the Kazakhstan banks considerably will rise in price. Whether it is necessary to say, what these burdens finally will be assigned to shoulders of private soldiers êàçàõñòàíöåâ? So, most likely, to hope for fall of interest rates under the mortgage it is not necessary, as though they have not increased again.