Russia will launch a new, cheap mortgage

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Photo: Alexey Filippov / RIA Novosti

The Ministry of construction of Russia is considering the possibility to launch a preferential mortgage with rate, subsidized from the budget, as one of the mechanisms for the resettlement of dilapidated housing. It is reported TASS citing the head of the Ministry Vladimir Yakushev.

“The new programme of resettlement of dilapidated housing will work on 1 January 2019. Also the discussion was that a number of regulatory mechanisms that worked today for resettlement in the subjects, after modification can, in principle, be implemented on the entire territory of Russia. According to the instructions of the President, we must prepare such amendments for the spring session,” — said Yakushev after the meeting of the President of Russia Vladimir Putin with the government.

The number of regional mechanisms that are highly likely to be implemented across Russia, the head of the Ministry of construction called a preferential mortgage. “This so-called social mortgage, when the estimated housing for people moving out of the emergency Fund and this money goes as a down payment on a mortgage on favorable terms with an interest rate of 5 to 7 percent per annum,” — said the Minister.

Project for the resettlement of the Russian emergency housing is included in the national project “Housing and accessible environment”. In the framework of the six years it is planned to resettle more than 10 million square meters of dilapidated housing.

In 2018 in Russia there is a program of preferential mortgage lending for large families. The first edition of the law provided for subsidies to 6 percent for families where a second or third child. Over time, families with four or more children were able to draw attention to the fact that they are conditions of preferential mortgage do not apply. The discrepancy in the law was corrected in August 2018.

Video, photo All from Russia.

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