Representative: Жанна Чепченко
Russian movement of borrowers in foreign currency (Всероссийское движение валютных заемщиков)
Контакты для СМИ: +7 (985) 230-55-13
smi@ipotekavvalute.ru
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Since its beginnings, russian initiative began on a social network of Vkontakte, which was created by Pável Dúrov and it is known internationally as VK. This was the main place of communication of borrowers. Thus, their group SMP bank which redeemed their mortgage obligations from GE bank, was formed (Northern Sea Route).
Banks started to issue currency mortgage loans in dollars yens, francs, and to a lesser extent in euros in 2006. Nevertheless, the bulk of currency mortgage loans was issued in 2008. The currency credits were offered by all Banks as российскик as well as those derived from GE banks, French DeltaCredit, Raiffeisen bank and many others.
On the other hand, the reply to the request on receiving a mortgage loan in Russian rubles was refused. The same sum was suggested to be taken in currency motivating low interest and smaller monthly payments. The greatest part of the credits was nominated in US dollars. At that time in Russia, there was an operated exchange rate in relation to ruble, so-called “a currency corridor” which supported the Central Bank of Russia. Nobody could even imagine that at the end of 2013, the Central Bank of Russia will declare transition to a free, floating rate of ruble. You can read here the Guidelines for the Single State Monetary Policy for 2014 and the period 2015 and 2016. As a result, dollar exchange rate in relation to 2008 was 23 rubles for 1 dollar, and today 67 rubles for 1 dollar.
Currently, in this country, we could talk about three successful cases against bank. Firstly, one case was found in archives, it expired when the legal process started. However, there is no opportunity to contact neither the claimant, nor someone. The second case has taken place in Krasnodar and the trial has not been held yet. The third case is found in Moscow where the bank has appealed the decision.
