Russian bankers asked temporarily not to evict mortgage holders

the Central Bank adopted additional measures on protection of interests of citizens, including mortgage borrowers, during the spread of coronavirus infection. This is stated in the message published on Friday, April 17, on the regulator’s website.

In support of the citizens of the Central Bank recommends to banks, microfinance and other credit organizations to suspend until 30 September 2020 procedures of forced eviction of debtors and individuals who live with them. The regulator also requested lenders temporarily — the period of validity in certain regions of the regime of isolation — not to hold meetings with the borrowers-debtors.

in addition, the Central Bank in order to increase the availability of mortgages is planning to liberalize the risk assessment according to standard mortgage loans. This will contribute to lower interest rates, the report says.

a Day earlier, President Vladimir Putin announced the launch in Russia of a preferential mortgage program. The interest rate on loans under the program will amount to 6.5% per annum. Apply for obtaining preferential mortgage is possible before 1 November 2020.