Putin instructed to change the terms of the preferential mortgage

Preferential mortgage rate will rise to 12%
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Russian President Vladimir Putin has instructed to change the terms of preferential mortgages for new buildings in Russia. The rate will be no more than 12%, and the maximum loan amount will also increase. This was reported on the Kremlin’s website.

“Amendments from April 1, 2022 to the terms of the preferential mortgage program, valid until July 1, 2022. The interest rate on mortgage loans (loans) provided to citizens of the Russian Federation to purchase housing in the primary market should not exceed 12% per annum for the entire the term of the loan, “the Kremlin said.

The maximum loan amount should not exceed 12 million rubles for Moscow, St. Petersburg, Moscow and Leningrad regions. For other Russian regions, the amount should not exceed 6 million rubles. The terms of the current preferential mortgage will be maintained for families with children, participants in the Far Eastern Mortgage program and the mortgage program for housing construction in rural areas.

Earlier, the head of the Ministry of Finance of the Russian Federation Maksut Shadayev said that IT specialists with a salary of more than 200 thousand rubles will be able to get a soft mortgage. Russia also has preferential programs under which mortgages can be issued at 6%, 3% or 2%, the site reports. MK.RU. The Russian government plans to continue to support preferential mortgage programs, RT quoted Prime Minister Mikhail Mishustin as saying.

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Russian President Vladimir Putin has instructed to change the terms of preferential mortgages for new buildings in Russia. The rate will be no more than 12%, and the maximum loan amount will also increase. This was reported on the Kremlin’s website. “Amendments from April 1, 2022 to the terms of the preferential mortgage program, valid until July 1, 2022. The interest rate on mortgage loans (loans) provided to citizens of the Russian Federation to purchase housing in the primary market should not exceed 12% per annum for the entire the term of the loan, “the Kremlin said. The maximum loan amount should not exceed 12 million rubles for Moscow, St. Petersburg, Moscow and Leningrad regions. For other Russian regions, the amount should not exceed 6 million rubles. The terms of the current preferential mortgage will be maintained for families with children, participants in the Far Eastern Mortgage program and the mortgage program for housing construction in rural areas. Earlier, the head of the Ministry of Finance of the Russian Federation Maksut Shadayev said that IT specialists with a salary of more than 200 thousand rubles will be able to get a soft mortgage. In Russia, there are also preferential programs under which mortgages can be issued at 6%, 3% or 2%, reports the site MK.RU. The Russian government plans to continue to support preferential mortgage programs, RT quoted Prime Minister Mikhail Mishustin as saying.

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