The program of the preferential mortgage was again proposed to be extended

The head of the Chamber of Commerce and Industry Katyrin proposed extending the preferential mortgage program The representative of the organization said this at the forum “Low-rise Russia – 2021”, TASS reports.

Katyrin recalled that changes to the preferential mortgage program entered into force in October 2021. With the help of it, citizens can buy housing on the primary real estate market or start building a house on credit at a rate of no more than seven percent per annum. “It is necessary that this resolution be extended for subsequent years,” Katyrin said and added that it is possible to obtain a mortgage loan on preferential terms until July 1, 2022.

The top manager partly agrees with Katyrin's opinion VTB Anatoly Pechatnikov. He also proposed to extend the program of preferential mortgages, but noted that it needs to be modernized. According to Pechatnikov, preferential mortgages should be left for certain categories of the population. Among them, the top manager listed teachers, doctors, representatives of other socially significant professions and residents of single-industry towns.

In 2021, the Russians set a new mortgage record. The volume of mortgage loans issued in ten months of 2021 exceeded the results of the whole of 2020, as well as the indicators of previous years. From January to October, the Russians took out mortgage loans for 4.28 trillion rubles.

At the same time, in October 2021, the growth rate of mortgage lending slowed down somewhat due to the rise in mortgage prices under conventional programs. While rates on concessional mortgages remain the same, rates on conventional programs are growing following the increase in the key rate. In November, large Russian banks raised mortgage rates on basic programs by an average of 0.4-1 percentage points.