The Ministry of Finance of the Russian Federation insists on changing the conditions of preferential mortgages

CrimeaPRESS reports:

According to market experts, the struggle continues between two departments — the Ministry of Finance and the Ministry of Construction. The Ministry of Finance wants to cool the market, tighten mortgage conditions, and the Ministry of Construction reminds that a large number of square meters need to be put into operation and support developers.

The Ministry of Finance proposed changing the terms of preferential mortgages and has already submitted a draft resolution to the government. About it «Interfax» Deputy Minister of Finance Ivan Chebeskov said.

The agency, according to agency sources, proposes four big changes to the conditions of preferential mortgages.

• First, reduce the maximum loan size for Moscow, St. Petersburg, Moscow and Leningrad regions from 12 million to 6 million rubles.
• Secondly, increase the minimum down payment again, to 30%. Previously, the government increased from 15% to 20% of the contract price, but this measure did not affect the reduction in the issuance of mortgages.
• Thirdly, the Ministry of Finance wants to reduce by half a percentage point the maximum amount of subsidies received by banks lending under preferential government programs.
• Finally, the department proposes to limit the possibility of a borrower receiving several mortgage loans at once: it will be possible to take out one preferential loan under one preferential program.

Earlier, Marat Khusnullin said that the minimum down payment on a preferential mortgage should be increased in order to regulate the volume of new loans, which is now, according to Khusnullin, “very large.”

The Central Bank also warned about the risks of a further increase in the population’s debt load. The head of the regulator, Elvira Nabiullina, said that the Central Bank will limit the issuance of mortgages to those borrowers who spend more than half of their income on loan repayments. And according to the results of the second quarter of this year, banks issued 70% of mortgages to these already over-leveraged citizens.

source: BFM.ru

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