Feb 16, 2021
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Peskov: the decision to extend the preferential mortgage has not yet been made

The press secretary of the President of the Russian Federation Dmitry Peskov said that the decision to extend the preferential mortgage programs until 2024 has not yet been made, while there is only an instruction to work out the appropriate option, TASS reports.

Peskov noted that it is incorrect to interpret as a final decision the order of the head of state to submit proposals for the implementation of preferential mortgage programs in 2021-2024. The president’s order was posted on the Kremlin’s official website yesterday. Peskov emphasized that it is precisely about working out the possibility and feasibility of this step.

“The preferential mortgage helped the construction sector in the difficult year of 2020, <...> [это] dispersed the new housing market, ”the spokesman for the Russian president said, adding that this had an impact on other sectors of the economy, but at the same time, following demand, prices for new buildings began to grow. “And there is also an expert point of view that a certain mortgage bubble is inflating,” said Peskov.

According to him, Putin was informed about both points of view and he instructed “to come to a consolidated opinion that would most closely correspond to the interests of the country’s development in the post-like period.”

Yesterday it became known that the President instructed to consider the possibility of lowering the rate on mortgages for families. The Central Bank and the Government of the Russian Federation must submit their proposals by March 31.

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