MOSCOW, September 5 The Russian authorities are discussing changes to the preferential mortgage program, in particular, they are thinking about increasing the first installment, Ivan Chebeskov, director of the financial policy department of the Ministry of Finance, told reporters on the sidelines Forum «Digital Finance: New Economic Reality».
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«Now they are discussing an increase in the down payment, a change in the so-called margin of banks,» he said.
Chebeskov explained that we are talking about an additive that is included in the formula used to calculate what banks should subsidize .
Journalists asked how much it is planned to increase the first installment. According to the head of the department, the option of increasing it to 20 percent is being considered.
Chebeskov also noted that it is planned to adjust the mechanism in the short term.
«But in general, we are also thinking about how to make the preferential mortgage mechanism more stable in the future, so that there is no need to resort to such changes. Because if the rate falls sharply, then it is unprofitable for banks — then it will be necessary to change it again. This is more likely due to a sharp increase in the key rate,» he concluded.
Now there are several preferential mortgage programs in Russia. The most common preferential mortgage program operates throughout the country: it allows you to get a loan to buy an apartment in a new building or build a house at a rate of no more than eight percent per annum. The maximum loan amount is 12 million rubles in Moscow and St. Petersburg and 6 million rubles in other regions.