The Finance Ministry plans to propose changes to implemented by the Agency for housing mortgage lending (AHML) program to help subprime borrowers who are in a difficult financial situation. The amendments are aimed to support foreign currency borrowers, said Deputy Finance Minister Alexei Moiseev.
According to him, the problem lies in the fact that the program focused precisely on the currency mortgage holders. Amendments can come into force this spring, he added.
The assistance program mortgage borrowers apply to holders and ruble and foreign currency loans. In the framework of banks restructuring troubled mortgages at preferential terms, and lost income to them for the state.
The government launched the program in April 2015, but in fact she earned in December. As shown by the first months of originally approved requirements for borrowers too hard, in a result, more than half of the programs were restructured only one loan. The conditions were not satisfied, and banks were not satisfied with the compensation for shortfall in income (200 thousand rubles per one credit). In the summer it was decided on a radical recycling program, the changes came into force at the beginning of December. In the new version softened the requirements for borrowers and mortgaged housing, as well as three times increase in reimbursement to banks — to 600 thousand.
The scope of the programme for the whole period of its validity — 4.5 bn RUB., the date is 1 March 2017. Will it be renewed, the government has announced.
Changes are not enough
As said a source knowledgeable about the situation around the program, the idea of amending the already updated document arises not for the first time. According to him, some time ago this issue was discussed with the Central Bank, but action never came.
“The essence of the proposals to change programme was to reorient it with the ruble and foreign currency borrowers only the last. Moreover, in order to avoid social turmoil, this is not formally right prohibiting access to the program for rouble mortgage borrowers, and through changes in the criteria for participation in the program so that under it fell mainly foreign currency mortgage loans”, — the interlocutor told .
The proposal, he explains, was to ensure, to restrict the loans under the restructuring, those that were issued before 2015, and to remove from the program the criterion of compliance to the minimum wage, which is now oriented program more in relation to the exchange of food.
The food came to Minister
Statement of the Ministry of Finance followed on the background of the meeting the group currency borrowers with the head of Department Anton Siluanov in the House of government on March 10. Activists were asked about the restructuring of their loans. According to the Finance Ministry, following the meeting, the President instructed to submit additional proposals for the updating of the system of support for mortgage borrowers, focusing on FX mortgage holders. The Finance Ministry stressed that the decisions or instructions about the preparation or support of legislative initiatives on introduction of moratorium on repayment of the mortgage, the partial write-off of loans in a foreign currency or to change the terms of foreclosure on mortgaged property was not given.