banks received new limits on preferential mortgages for 2.3 trillion rubles – Kommersant
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Russian banks received additional limits on state mortgage programs in the amount of 2.3 trillion rubles, they reported “Izvestia” in Dom.RF (operator of distribution of budget limits for preferential mortgage programs). The government decree on additional limits was adopted in December 2023, but they were distributed among market participants in January 2024. Most of the limits were received by Sberbank and VTB.
The largest funds were allocated to family mortgages; the limits for this program were expanded by 1.2 trillion rubles to 4.6 trillion. rubles, reported Dom.RF. Preferential mortgages for new buildings at 8% received an additional 1 trillion rubles, the limit on it increased to 6 trillion rubles. Banks also received additional funds in the amount of RUB 31 billion. for the implementation of the Far Eastern Mortgage.
According to Dom.RF as of January 25, Sberbank received most of the limits for state programs: 700 billion rubles. for preferential mortgages for new buildings and 673 billion rubles. – for family. The top financial organizations by the allocated limit also included VTB, Alfa Bank and Dom.RF Bank.
On January 16, Dom.RF CEO Vitaly Mutko said that the state-owned company may revise the rules for issuing limits to banks allocated by the country’s budget to support mortgages at state-subsidized rates. According to him, these funds can be redistributed in favor of banks that did not introduce a commission for developers for each home buyer who takes out a preferential mortgage. In particular, Sberbank, VTB and Alfa Bank, whose combined share in the country’s mortgage market reaches 85%, may lose government subsidies to cover expenses.
Read more in the Kommersant article. “Dom.RF expressed itself very clearly”.
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