Life-long assistance: families with two or more children will subsidize the mortgage in full
A preferential mortgage for families with children, which was introduced in Russia in 2018 on the initiative of President Vladimir Putin, on his initiative will become more attractive.
If previously a loan for the purchase of housing was given at 6% per annum on condition of co-financing from the state for a period of 3 to 8 years, after which the parents, by law, were deprived of the state subsidy and began to pay the full cost of the loan, now subsidize a mortgage to families for the entire duration of the mortgage loan - someone is 15 years old, someone is 25 years old, etc.
Perhaps it was the limited term of concessional lending and the unsightly prospect that later paid more than at the initial stage, frightened families from this mortgage. Statistics showed that only 4.5 thousand Russian families in 2018 took advantage of the so-called "child mortgage".
According to the head of state, it is worthwhile to provide assistance from the federal budget not only for the first 3, 5, 8 years, but also for the entire remaining period of the mortgage, and then there will be more people willing to improve housing conditions with state support.
Families in which since January 1, 2018, a second, third, or any subsequent child is born. The program is valid until December 31, 2022. Will it be extended, not yet reported.