Oct 14, 2020
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Putin proposed to extend the preferential mortgage program until 2021

Russian President Vladimir Putin has proposed extending the preferential mortgage at 6.5% per annum at least until mid-2021 due to the difficult economic situation.

Putin recalled during a video meeting with government members that this program is one of the existing measures to support the construction industry and citizens in Russia, but it should end on November 1.

Considering that the situation in our country is, in general, not easy, although the economy is recovering, nevertheless, it is still difficult for people and certain sectors of the economy, including construction, let's extend this benefit at least until the middle of next year, - quotes Putin RIA Novosti.

The preferential mortgage program began operating in the Russian Federation at the end of April. With the help of it, you can get a loan for the purchase of an apartment at a preferential rate of 6.5%. In this case, the rate will be valid for the entire loan term, up to 30 years. It applies only to the purchase of apartments in new buildings and allows you to get a loan of up to 6 million rubles, and residents of Moscow and St. Petersburg - up to 12 million rubles. At the end of September, Deputy Prime Minister Marat Khusnullin announced that the government could extend this program.

As wrote, experts believe that the mortgage boom may lead to further growth in prices for residential real estate.

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