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Oct 12, 2020
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The Ministry of Finance proposes to extend the preferential mortgage until the end of 2021

The Ministry of Finance proposes to extend the preferential mortgage program at 6.5% until December 31, 2021, TASS reports with reference to the corresponding draft government decree.

The explanatory note to the document notes that it was also proposed to increase the amount of loans that banks can issue under this program, from 900 billion rubles to 2.8 trillion rubles.

In addition, banks must submit applications for the allocation of additional limits to the program operator - DOM.RF - within ten days after the entry into force of the draft resolution.

The ministry stressed that the extension of the program will improve the efficiency of support for the construction industry and the availability of mortgages in the context of a pandemic and an increase in interest rates on housing loans.

Recall, on April 23, the government approved a preferential mortgage program at 6.5% per annum for home buyers in new buildings. The program expires on November 1.

Earlier it was reported that the decision to extend the preferential mortgage will be made after November 1. According to Deputy Prime Minister Marat Khusnullin, until that time the results will be summed up, and after that a decision has been made on the conditions under which the work on this program will be carried out.

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