Mortgage repayment performance improves
Borrowers who raised mortgages in 2025 have fewer delinquencies compared to those who took out mortgages in 2024, according to the analysis by credit history bureaus (CHBs). This is associated with, among other things, banks pursuing a more cautious approach to assessing borrowers’ creditworthiness amid the Bank of Russia’s measures and problems arising in their portfolios of mortgages issued over 2023–2024.
Concurrently, banks started to more actively grant mortgages to borrowers who will be aged 70–75 as of the planned repayment date: they accounted for about one-fifth of the loans issued in 2025 H2. Over that period, the proportion of borrowers who will be aged over 60 as of the planned repayment date equalled 65%.
A significant percentage of mortgages provided in 2025 were loans under the Family Mortgage programme issued to 560,000 people, or 59% of the total number of mortgagors. Apparently, many of these individuals did not purchase their first homes, but rather improved their housing conditions, since 216,000 mortgagors had already raised a loan before. Furthermore, 71,000 people are repaying two mortgages simultaneously, which increases their debt burden. The measures taken by the Bank of Russia to limit borrowers’ debt burden help reduce the risks of delinquencies on such loans.
Additionally, CHBs’ analysis shows that the number of mortgagors remained stable over the course of last year, totalling 10 million. Increasingly more individuals are raising car loans: as of the beginning of 2026, their number exceeded three million for the first time. Contrastingly, the demand for unsecured consumer loans declined.
As of the end of 2025 H2, the total number of borrowers at banks and microfinance organisations decreased by 1.1 million to 48.5 million, which is the lowest level since 2024 Q1. The number of borrowers having only bank loans dropped most notably, specifically by 0.9 million. The number of borrowers with microloans declined for the first time in the records since 2022 (by 0.2 million).
Individuals with the highest debt service-to-income ratios are seeking to reduce their debt burden. In 2025 H2, the number of borrowers having three or more loans dropped by 0.6 million and their outstanding debt – by ₽0.3 million. However, these individuals account for 47% of total debt.
More details are available in the information and analytical commentary Analysis of Retail Lending Trends Based on Credit History Bureaus’ Data for 2025 H2.