Sberbank stops accepting mortgage applications from a developer with a final rate of less than 3%

Sberbank will stop accepting applications for a mortgage from a developer with a final rate of less than 3% from December 27. About it “RIA News” said Anatoly Popov, deputy chairman of the board of the bank.

“Following the regulator’s position on loans with a near-zero mortgage interest rate, from December 27, 2022, Sber will stop accepting applications with subsidies from the developer with a final rate of less than 3%,” Mr. Popov said, noting that the bank supports the regulator’s demand. Buyers do not always understand the conditions and mechanism of operation of such subsidized programs, the deputy chairman of Sberbank explained.

Earlier, the head of the Bank of Russia, Elvira Nabiullina, called mortgage rates from banks close to zero a marketing campaign. The so-called mortgages from developers mislead borrowers, Ms. Nabiullina noted.

Today, December 15, during a meeting of the Council for Strategic Development and National Projects, Russian President Vladimir Putin declaredthat the preferential mortgage program will be extended until July 1, 2024. The rate for such programs will increase to 8%. He also said that family mortgage programs with a rate of 6% will be available for families with two children under the age of 18. The preferential mortgage program is due to end on December 31, 2022.

Read more in the publication of the application “Money” “Buyers will find other benefits”.

Maria Fedotova