The government to prepare new measures to support the mortgage

The government to prepare new measures to support the mortgage


Subsidizing interest rates on preferential mortgage won’t be extended, but this does not mean that there will be other measures to support mortgage lending, announced the Deputy Minister of Finance of Russia Alexey Moiseev.

MOSCOW, 19 Jan. The government has no plans to extend subsidies discounted rates on mortgages, but may consider other support measures, announced by Deputy Finance Minister of Russia Alexei Moiseev journalists in the state Duma.

“Subsidies for reduced mortgage won’t be extended”, — he said. “This does not mean that there will be other measures to support the mortgage”, — said Moiseev, without specifying on what exactly the mechanisms involved.

The government of the Russian Federation, in accordance with the law on preferential mortgage, planning in 2015 to allocate 20 billion rubles to Russian banks for subsidized mortgage loans for the purchase of a primary residence, so they were not above 12% per annum. It was assumed that this will allow banks to issue mortgage loans on 400 billion rubles. Later the government extended the program of preferential mortgage lending with state support up to 700 billion rubles. The program is valid from 1 March 2015 to 1 April of the current year.