Sberbank refused to work with Urban Group

Sberbank turned mortgage programs to purchase housing in some projects of the Urban Group. The losses of the company Alexander Dolgin can amount to 20 billion rubles a year.
The State Bank believes that the developer, tearing down construction time, increases risks for the lender and borrowers. The severance of relations with Sberbank will lead to the loss of the group to 20 billion rubles. annually. Meanwhile, market participants received a clear signal about the precariousness of the financial situation in Urban.

Sberbank has revoked the accreditation of Urban Group projects, which allows potential buyers to make out a mortgage at the bank for the purchase of an apartment in the developer's houses. Two bankers told Kommersant about this. According to one of them, the bank suspended partnership with such structures of Urban as Highgate, Your City, Ivastroy and Continent Project. In the Savings Bank from the official comments refused. According to a Kommersant source close to the bank, the reason is in high risks, as Urban has ceased to comply with the stated terms of construction. "Since May 21, the company was excluded from the list of participants of the project" Domklik "," another interlocutor of Kommersant asserts. "Domklik" is an online site created by Sberbank for a simplified home purchase involving a mortgage.

According to several interlocutors of "Kommersant", at the expense of mortgages from the Savings Bank, Urban received 15-20 billion rubles. annually.

The press service of the Urban Group argue that the cooperation has been suspended temporarily. "We expect a notice from Sberbank about the reasons for what happened, after which we will begin to remove them. Registration of previously approved customer applications before May 27 inclusive takes place in the working order ", - stressed in the Urban Group. Earlier, the conditions for working with Urban tightened VTB 24. The press service of the bank told Kommersant that they did not withdraw accreditation from Urban.

The press service of Urban reported that the mortgage from VTB 24 is available to the company's buyers, but on condition that the houses where the apartments are purchased are built on 40%.

"This is a serious restriction on the part of the partner bank, as the developer starts to attract the equity holders' funds at the very start of the construction," - says the source close to the company.

This year, the partnership between Sberbank and the Urban Group is ten years old. The main owner of the company is Alexander Dolgin. The company has built more than 2 million square meters. m of housing in the suburbs. Five projects are currently underway, including Mitino O2 City Resort, Vidny Gorod, Lyakovo City-Event, Solar System (second stage), Lesarevizhny.

The banks' feedback on the accreditation of the developer's projects speaks of the difficult financial situation of the company, says one of the interlocutors of Kommersant. "The withdrawal of accreditation by the state bank is a serious signal for the rest of the market participants," Sergei Gordeyko, head of the analytical center of Rusipoteka, agrees. "If the developer is accredited by Sberbank, other banks ask buyers for minimum documents for a similar procedure." In addition to Sberbank and VTB 24, mortgages for apartments from the Urban Group are issued, in particular, by Gazprombank, Vozrozhdenie, Raiffeisenbank, Absolute.

Now, with the involvement of mortgages, 44% of transactions in new buildings are concluded, Maria Metinium managing partner Maria Litinetskaya says. In the period from 2014 to 2017, this indicator doubled due to the stagnation of household incomes and a reduction in average mortgage rates, which in the first quarter of 2018 amounted to 9.44% per annum (at the end of 2014 - 13.47%).

According to Ms. Litinetskaya, developers tend to accredit projects from several banks in order to increase the chance of obtaining a loan for any borrower. Sergei Gordeyko adds that such a scheme is also beneficial for banks, since the risks of the project are distributed evenly across all credit institutions that issue mortgages for a particular facility. If the bank withdraws accreditation, then the developer can not count on the fact that his potential client will receive a mortgage in it, emphasizes Maria Litinetskaya. "To finally not lose financial resources, the developer will probably have to offer customers a long installment plan," the expert believes.