VTB will change the conditions for issuing preferential mortgages – Kommersant
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From January 12, VTB will change the conditions for issuing preferential mortgages: clients will be able to receive it only when purchasing housing from partner developers.
“The new conditions apply to the purchase of apartments under all preferential programs and do not affect loans for individual housing construction. Clients can obtain information about partner accreditation directly from developers or VTB mortgage managers. If the developer does not meet the bank’s new requirements, the borrower will be able to apply for a loan under basic programs,” VTB said.
Clients who enter into a deal before January 12 will enter into it under the same conditions, bank representatives clarified. If a person has received approval for a preferential mortgage, but did not have time to sign the agreement before this date, he may face an increase in the loan rate. Currently, the preferential rate is 8% per annum, the base rate is from 16.4% per annum.
At the end of last December, the Russian government announced a revision of the preferential mortgage program. From January 11, the conditions for issuing such a mortgage will be changed by Sber.
Read more in the Kommersant article. “Squaring a meter”.
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