Reduced rate from 9% to 6,5% will allow you to reduce the size of the monthly payment and save on interest payments, I told FBA “economy today” Head of the Department of Financial Management REU them. gv. Plekhanova Konstantin Ordov.
The Ministry of Finance of the Russian Federation submitted to the government a draft resolution on the launch of a preferential mortgage program under 6,5% to 1 November 2020 of the year.
“This interest rate is a good offer for citizens. The average rate in Russia is now just 9%. Thanks to the program, the monthly payment compared to the previous rate will be reduced by approximately 1,5 times ", – says expert.
It is important to note, that earlier mortgage loans at a rate lower 7% annuals were available only to large families under the family mortgage program. Now almost anyone who wants to buy their first home can use a preferential mortgage.. Moreover, five years ago, the mortgage rate was subsidized up to 12% per annum.
Recall, 16 April the program was announced by Russian President Vladimir Putin. FROM 20 April, without waiting for government decree, banks began to accept the first applications and issue home loans, despite the fact that the program officially starts 1 May. The difference between the preferential rate and the market rate is subsidized by the state, which will spend about 6 billion rubles.
Conditions for obtaining a preferential mortgage
Sberbank began accepting applications for mortgages under the state program, who intends to issue loans under 6,4% per annum with state subsidized rates in 6,5%. Alfa-Bank is already accepting applications., Promsvyazbank, bank DOM.RF and VTB, offering loans under 6,5%. The rest of the stated conditions coincide with those, reported by Sberbank.
According to the official statement of the department, the project is aimed at improving the living conditions of Russians. The program applies to loans, issued since 17 April 1 November 2020 years on certain conditions. Loan rate, which amounts to 6,5%, also must apply to the entire loan term. In this case, the initial payment must be at least 20%.
Loan amount for residential premises in Moscow, St. Petersburg, Moscow and Leningrad regions should not exceed 8 million rubles, in other regions – 3 million rubles. You can apply for such a mortgage until 1 November this year, but it will be possible to buy an apartment at a reduced rate only in a new comfort-class building and on condition, that this will be the first home.
According to DOM.RF data for 2019 year and first quarter 2020 of the year, share of apartments up to 8 million rubles in Moscow is 54,3%, in St. Petersburg - 90,5%, and in the regions of apartments at a price of up to 3 million rubles about 70%.
Konstantin Ordov notes, what's in a crisis, caused by coronavirus infection, loan conditions are tightening, therefore banks are unlikely to agree to a small down payment – when the world economy is unstable, mortgage delay risks are growing.
“Today we understand, that the mortgage is in demand. But you still need to think about it, how to increase interest in it even more. probably, this type of lending will become more relevant in large regions of Russia, but only among those citizens, who were planning to buy an apartment in the near future. But in small regions, demand will also be noted, because the Russians there will lose in income differently than in central Russia ”. – According to the expert.
Also Konstantin Ordov reminds, that the Central Bank of the Russian Federation is considering the likelihood of a key rate cut by 0,5 P. P. in the near future.
“If the main regulator makes such a decision, then rates will decrease further. But due to problems in the global economy and rising risks, the situation is getting tense. But, as statistics show, the acute phase usually does not last longer 6-8 months.
If we consider, that February-March was marked for us by the beginning of the crisis, then the end of summer or the beginning of autumn should be marked by stabilization in the economy and financial markets. Therefore, if the Russian banking system does not face an increase in late payments due to the loss of jobs by Russians, then we can talk about positive development. But if the collapse persists, you shouldn't expect a key rate cut ”, – expert explains.
Preferential mortgages to support the construction industry
Recall, Deputy Prime Minister Marat Khusnullin said, that mortgage at rate 6,5% for the purchase of housing in new buildings will bring the construction industry about 500 billion rubles.
Earlier, at a meeting with the President, the head of the Ministry of Construction of the Russian Federation Vladimir Yakushev emphasized, that the demand for housing in the country fell by 30%, and by the end of the self-isolation regime, it is expected to decrease to 50%. he noted, that in these conditions it is necessary to support housing construction.
“Preferential mortgage is a complex solution to several problems, including support for Russians in quarantine, support of the construction industry in difficult times and the country's economy.
This program was also carried out due to fears of a sharp decline in the activity of builders. It will support demand, development projects and solve social problems, associated with the desire to expand the living space. In other words, there will be stimulation of economic demand ”, – He stated the expert.
Alexander Melnik
