Promise to give birth to a child and… you will be given a preferential mortgage. But this is not certain yet

The publication’s interlocutors admit that the idea is still “raw.” It is assumed that a childless borrower will receive a home loan on the terms that apply to a family mortgage — at 6% per annum. The state compensates the bank for the difference between preferential and market rates. When purchasing an apartment worth 10 million rubles with a mortgage, the down payment will be 2.5 million rubles. At a preferential rate of 6%, the monthly payment will be 53.7 thousand rubles, and the overpayment on the loan will be 5.4 million rubles. Within two years, the borrower must document that he has become a parent. In this case, he will keep the rate of 6% per annum. If the family does not have a child by this date, the rate will be increased to the market level.

General Director of SRO A «Association of Builders of St. Petersburg» Alexey Belousov believes that this offer will be beneficial to borrowers, even if the family is not able to give birth to a child by the required date. The expert noted that the Central Bank expects a noticeable reduction in the key rate in two years. In 2027, the rate may drop to 7.5-8.5%. If the forecast comes true, market mortgage rates will be significantly lower in two years. This scheme will allow borrowers not to postpone plans to improve their living conditions and comfortably go through a period of high rates, and after two years receive an affordable market rate.

According to Belousov, the initiative will be discussed by the construction and financial blocks in the government.

The authorities are trying to stimulate the construction industry and improve demographics. However, this initiative raises many questions. What happens if it turns out that the couple did not plan to have children, but simply sought to save on mortgage payments? Will borrowers who were infertile or on birth control be considered credit fraudsters?

Demographer Alexey Raksha believes that such a program can only have a small demographic effect. It will not affect the overall birth rate situation in the country. According to the expert, families would be more willing to decide to have a child if they were offered interest-free installments or a large housing subsidy.

source: CYANOGEN