In the second quarter of 2011, the number of requests regarding the exchange of secondary housing using a mortgage in Moscow increased by 15 percent compared to the first three months of this year. This is stated in the review of the company "INCOM-Real Estate".
Experts explain that many families have put off resolving the housing issue for many years, waiting for the implementation of capital programs for the demolition and reconstruction of uncomfortable housing. However, the postponement of the demolition of dilapidated housing in the capital and the reduction in the rate of overhaul
pushes some clients to exchange their housing for a more comfortable one, including with the help of a mortgage.
According to analysts, 75 percent of transactions using mortgages in the secondary market are alternative. This type of transaction assumes that the accumulated amount and a small mortgage loan are used as an additional payment for the apartment. The most common loan amount in the second quarter of 2011 was in the region of 3.4-3.5 million rubles. Compared to mid-2009, this figure increased by 1 million rubles. Despite the fact that formally a mortgage is taken out for a period of up to 30 years, in reality borrowers try to repay their loans in an average of 5-7 years.
Realtors note that in total they are faced with two schemes of alternative mortgage transactions. The first is the travel of a family of different generations living in the same living space. The second popular trend is moving from physically and morally outdated housing to more comfortable homes. When resorting to a mortgage loan, buyers also change their areas of residence to ones that are more convenient in terms of transport accessibility or to cheaper ones where they can purchase a larger apartment.

Demand for mortgages when exchanging housing has increased in Moscow