Preferential mortgage at 6 percent in 2020

2024 Author: James Gerald | [email protected]. Last modified: 2024-01-12 17:37

On June 23, 2020, the President of the Russian Federation made an intention to make mortgage conditions more accessible for developers and citizens planning to buy real estate. We are talking about a preferential mortgage at 6 percent, which can be obtained in 2020.

Details

Putin spoke about the launch of a new program, which contains the idea of preferential mortgage lending. The rate of such lending will be 6%. Previously, a preferential mortgage could be taken under certain conditions. In Moscow and St. Petersburg, the cost of real estate should not exceed 8 million rubles, and in other regions of the country - no more than 3.5 million rubles.

The new changes include an increase in the maximum amount limit. In Moscow and St. Petersburg, the size was increased to 12 million rubles, and in other regions - to 6 million.

The President notes that more than 6 billion rubles will be allocated from the treasury for the launch of such lending.

Vladimir Putin also has other proposals that he expressed at the meeting. For example, the state-owned company Dom.rf will be able to buy real estate that citizens have not previously purchased. 50 billion rubles will be allocated for the implementation of this idea.

It will also be possible to subsidize loan rates for developers. Such an advantage will be available to companies, subject to the preservation of jobs and completion in the near future of the facilities on which the work was carried out.

Analysts point out that the most profitable of the ideas of the President of the Russian Federation is the rate of preferential mortgages. This percentage has several advantages. Firstly, 6, 5% is a very profitable and small rate. Below is only the preferential program "Family Mortgage", which can be obtained by large families.

This mortgage has a rate of 6%, but, of course, it is more difficult to get such a loan than a new one. Secondly, the rate in the proposed program remains for the entire term of the mortgage. There is also such a function for large families, but it was not created immediately.

What did the market offer?

Analysts of the Dom.rf company presented a forecast on April 9, which informed that the volume of mortgages issued in 2020 will be less than it could have been. For example, in 2019, 2, 8 trillion rubles were issued to citizens in the form of mortgage assistance. In 2020, only 2.5 trillion rubles are forecasted to be issued.

To support citizens with the purchase of new real estate, Dom.rf offered subsidized mortgage lending rates. If a citizen takes a home on a mortgage in the time limit from 2020 to 2021, then Dom.rf offers a rate of 8%.

The authorities will have to allocate 100 billion rubles from the treasury for the implementation of such a program. The state-owned company also had an idea to buy real estate not sold to Russians. The lending rate for project financing will be changed - Dom.rf notes.

PIK President Sergei Gordeev also says that there were changes in April: a sharp drop in demand for real estate relative to May. The numbers are really impressive - demand has decreased by 65%. Gordeev proposed to the President of the Russian Federation to reduce the rate on mortgage lending in the amount of 4.5%.

Program participants

Frank Media conducted a survey on whether banks agree to support this program to reduce mortgage rates. Sberbank expressed its desire. In this bank, the rate will be 6.5% from the very moment the authorities are ready to release the program of preferential mortgage lending, and it will come into force.

VTB Bank will also participate in the program. He will be able to help the government to develop and clarify all the conditions together with other banks and the Ministry of Finance. Anatoly Pechatnikov, deputy chairman of the board of VTB, said that such a program would support both the construction and financial sectors. VTB has already begun to support the authorities with the implementation of this idea and allocated 84 billion rubles, making March a record for the number of completed mortgage transactions.

Pechatnikov says that a significant part of the entire amount of the preferential mortgage at 6% with favorable conditions in 2020 is the amount intended to pay for comfort-class housing.

Besides the first two banks, the program will also be supported by Promsvyazbank. Marina Zabotina, the head of the mortgage payments department of PSB, spoke about this. She says that the bank will be happy to help in obtaining a preferential mortgage at 6 percent with favorable conditions in 2020 for citizens during this difficult period, and not only for large families, but also for any others.

Several banks, such as:

1. ICD.
2. Bank opening".
3. Sovcombank.
4. Absolut Bank.

Sergei Khotimsky, first deputy chairman of the board of Sovcombank, noted that their institution will definitely take part in this program and support the authorities.

Otkritie Bank notes that the rate of 6.5% is very profitable and attractive for Russian citizens.

Absolut Bank says that there are no such low rates in any mortgage program, with the exception of the Children's Mortgage. But here, too, the new program will be more profitable, since the conditions for obtaining concessional loans are much better and more affordable.

Igor Seleznev, head of the mortgage lending center of MKB Bank, says that the new rate of 6.5% is lower than all values for 2019-2020.

Summarize

1. The government in March this year recorded a sharp demand for preferential mortgages at 6 percent with favorable terms in 2020.
2. Compared to March 2019, in March 2020 the volume of mortgage payments increased by 36% and amounted to 305 billion rubles.
3. On June 23, Vladimir Putin announced that a new preferential mortgage program with favorable terms in 2020 would be developed and released soon.