The Russian government is going to increase the down payment on preferential mortgage programs in order to regulate the volume of issuance, Russian Deputy Prime Minister Marat Khusnullin told TASS.
“Mortgages will develop. Until June 1 of next year, we have family and preferential mortgages. Now we are taking some measures to increase the down payment,” he said.
“The volume of mortgage issuance is very high at the moment. We are looking at how to regulate the volume of mortgage issuance before June 1,” added the Deputy Prime Minister.
Earlier this year, the Russian government already increased the minimum down payment for mortgage programs with state support – from October 1, it increased from 15% to 20%.
A record volume of preferential mortgages was recorded in Russia in 2023. In January-September, banks issued almost one and a half million mortgage loans totaling 5.5 trillion rubles, of which three trillion, or 55%, were loans under programs with state support.
2023-12-02 11:00:00
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