The President of the Russian Federation proposed to increase the size of preferential mortgages for large families
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Putin proposed to study the possibility of increasing the size of preferential mortgages for large families by autumn
The maximum mortgage amount for families with three or more children outside of Moscow, St. Petersburg, Moscow and Leningrad regions may be increased. President Vladimir Putin gave the corresponding instruction to the government of the Russian Federation. The text of the order is published on the Kremlin website.
It stipulates an increase in the loan amount for the purchase of housing with an area of more than 60 square meters to nine million rubles. It is proposed to allocate up to 12 million for apartments and houses with an area of more than 80 square meters.
The head of state demanded that the Cabinet of Ministers consider the possibility of increasing the preferential mortgage loan by September 1. Control over execution is entrusted to Prime Minister Mikhail Mishustin.
Family mortgage programs in Russia have been operating since 2018. Up to this point, the maximum loan amount for the capital regions was limited to 12 million, and for other territories – 6 million. The rate on such loans does not exceed six percent per annum.
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