“Ideally, enter the market with money, so that if you take out loans, then at least”
The previous rules were in force until July 1, and they were more loyal: the family had to have either one child is under six years old, or two are under 18. However, the maximum loan amount remains the same. Economist, financial adviser, author of the educational project “Economism” Alexey Krichevsky spoke about the intricacies of the updated “MK” program.
— Globally, nothing has actually changed at all, just some details have been clarified. The loan amount taken by the beneficiary can reach up to 30 million rubles in the Moscow and St. Petersburg agglomerations and up to 15 in other regions, and at a preferential rate you can get up to 12 in the capitals and up to 6 in the regions. It is clarified that now banks will look at other preferential mortgage loans received and, if the borrower has already used this option, he will not be able to take out a mortgage on preferential terms again. True, two important points are not clear here — are we talking only about a family mortgage or about a preferential one, and what to do if only one of the family members took out such a loan, including before the birth of a child. Otherwise, there are no changes, just an additional announcement of the program until 2030, and the rate remained at the same level of 6% per annum.
— Here it is difficult to say directly about the share of family mortgages in the loan portfolio, because in the coming months there will be the first “hangover” after the preferential one and the statistics can fundamentally wobble from side to side, especially taking into account the huge interest rates on loans. If we talk about the share among preferential programs, then the family one will definitely dominate here, but it is also too reckless to describe the percentage ratio — it could be 60% of all preferential loans, and 80% — depending on how the IT mortgage program changes , but it can be cut, and the percentage raised, and banned in the capital’s agglomerations.
— The situation now is such that rent is three times cheaper than mortgage payments — if we take a simple example in in the form of a one-room apartment in Moscow, then with a rent of 40 thousand a month, the mortgage payment can be 120. Therefore, ideally, of course, enter the market with money, so that if you borrow money, then at a minimum, definitely no more than 50 % of cost. It must be remembered that family mortgages still only apply to new buildings. And while we are waiting for the house to be ready and making repairs in the new home, we need to live somewhere, which also takes a toll on the wallet. But in fact, there is no universal advice here and cannot be — if there is a desire, need and opportunity to buy housing or improve conditions — this must be done. In addition, in a couple of years you can safely refinance the loan at a much more acceptable rate — it is unlikely that the Central Bank will keep it at the current level for several more years.