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Discounted mortgage rate to be reduced to 9%
The discounted mortgage rate for new builds will be reduced from 12% to 9% in the coming days, said Deputy Minister of Construction, Housing and Utilities Nikita Stasishin.
“What is in focus today? First and foremost, a mortgage. President Vladimir Vladimirovich Putin instructed yesterday to change the rate on subsidized mortgages. In the coming days, it will be reduced to 9% for all categories of citizens wishing to buy residential property at the stage of its building, in all territories and regions of our country,” said Stasishin.
Recently president Vladimir Putin proposed lowering the discounted mortgage rate to 9%. He also added that, despite the difficult economic situation, the government maintained discounted mortgage lending programs, including family mortgages, and increased the amount of federal funds allocated for these purposes.
On April 1, the discounted mortgage rate was increased from 7% to 12% against the backdrop of an increase in the Central Bank key rate. Also, the maximum loan amount was increased from 3 million to 12 million rubles in Moscow, St. Petersburg, Moscow and Leningrad regions. For other regions, the maximum loan amount increased to 6 million rubles.