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Aug 5, 2020
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More than 100 thousand loans issued to Russians under the preferential mortgage program

Since the end of April, Russian banks have issued more than 100,000 loans under the concessional mortgage program at 6.5% per annum, said Russian Deputy Prime Minister Marat Khusnullin.

According to him, the mortgage with state support has increased the demand for housing and now we can talk about its popularity among Russians, Interfax reports.

Since the launch of the 6.5% mortgage program at the end of April, banks have issued more than 103.3 thousand loans worth about 270 billion rubles. This measure made it possible, even against the background of the crisis, to overlap last year’s figures.

Khusnullin added that at the moment about 30% of the program limit has been selected.

Earlier, the head of the Russian government, Mikhail Mishustin, announced an increase in the total amount of loans that banks will be able to issue under a preferential program, from 740 to 900 billion rubles. In addition, he announced a decrease in the down payment on preferential mortgages from 20% to 15%.

The program of preferential mortgages at 6.5% per annum for the entire term of the loan for the purchase of new comfort-class housing was launched in April. It is valid for loans issued before November 1, 2020. In June, President Vladimir Putin proposed increasing the credit limit for the program from 8 to 12 million rubles in the Moscow region, St. Petersburg and the Leningrad region, as well as from 3 to 6 million rubles in other regions.

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