Benefits for secondary housing: in Russia it is planned to expand the program of preferential mortgage for families with children

Russian bankers appealed to the Ministry of Finance with a request expand preferential mortgage program for families with children.

In particular, it is proposed to improve the conditions for such support so that the mortgage becomes more attractive and affordable. To do this, bankers offer to extend the state program. not only for apartments in new buildings, but also for secondary housing, as well as significantly reduce the down payment.

So far, according to financial experts, the state program created to stimulate fertility has not significantly affected the housing loan market, nor the birth rate. For all of last year, only 4,500 such loans were issued in Russia, which is a drop in the ocean all over the country.

It is clear that the expansion of the program on the “secondary” will require additional expenses from the state treasury. But we need to speak not about the support of bankers or developers, but about supporting families, and for them such conditions will be more favorable and convenient.

More than 20 financial institutions, which are in the top 30 banks in Russia, joined the appeal to the Ministry of Finance.

The program, which received the name “Children's Mortgage” among bankers and among the people, was launched exactly one year ago. For the purchase of housing in the new building with state support, the family receives a loan at 6% per annum. An important condition: the second or third baby should be born in the family from January 1, 2018. Last summer, by the decision of the President of Russia, the program was distributed to the third, fourth and subsequent children.

And the past 12 months have shown that most of the Russian families who take mortgages, seek to arrange a loan for ready, not for housing under construction. And because the program of preferential loans does not seem attractive to them, especially if there are two, three or more children in a family. Large children need to enter the finished apartment, and not wait until it is built, put into operation, while it will be made repairs.

On the secondary housing market, loans are traditionally more expensive, as well as rates on them. Therefore, government spending on subsidizing such loans for families with children will increase.

The first installment on a preferential mortgage today is 20%. Bankers in a letter to the Ministry of Finance proposed to reduce it to 15%.

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