Preferential mortgage

The Central Bank will limit the mortgage programs of banks, the interest on which is significantly lower than the market. We are talking about cases when banks offer a "mortgage from the developer" with a reduced interest on the loan to 0.1%.

By mid-2023, the average mortgage repayment period in the country will increase to 25 years, and by the end of the year it will reach 27 years. This forecast was published by the experts of the Credit Rating Agency "NKR".

The volume of mortgage issuance in Russia has sharply decreased, and loan rates have crept up. This is evidenced by the statistics of the Central Bank.

Russian Prime Minister Mikhail Mishustin approved the extension of the preferential mortgage program for a year and a half - until July 1, 2024. You can get a preferential loan at a rate of up to 8% per annum for the purchase of housing in new buildings, the construction of a private house or the purchase of a land plot for its construction.