The government has changed the rules of granting subsidies on mortgages

The government has changed the rules of granting subsidies on mortgages


The new changes enable credit organizations and the Agency for housing mortgage lending to apply for grants.

MOSCOW, 3 Dec. The government has changed the rules of granting subsidies for housing mortgage lending for the compensation of shortfalls in income on mortgage loans, which will allow, in particular, to promote loans for construction of economy class housing, is spoken in the message of the press service of the Cabinet of Ministers.

The changes enable credit organizations and the Agency for housing mortgage lending (AHML) in addition to apply for grants. In this case, the mortgage market participants that plan to refinance loans through the seller, the opportunity to participate in the subsidy program.

In addition, the old rules of provision of subsidies to Russian credit organizations and the seller to compensate for the lost income on issued housing loans that were established by the government resolution of 13 March 2015, eliminated the requirement to repay the loan in equal installments while maintaining the annuity system of repayment. Also provided for use as a down payment (or portion thereof) the funds received by recipients of mortgage loans from the budgets of the Russian Federation.

The rule changes will allow to support the implementation of the programme of subsidies to Russian credit organizations, and the seller, will boost lending to the housing construction economy class, according to the certificate to the resolution.