the size of the initial installment under the program of preferential mortgage at 6.5 percent per annum will be reduced from 20 to 15 percent. This was stated by Prime Minister of the Russian Federation Mikhail Mishustin at the meeting with Vice-premiers on Monday, August 3, reports “Interfax”.

“to Reduce the size of the down payment from 20 to 15. The corresponding decree has been signed. Can bring into the program those borrowers who have not managed to accumulate the necessary sum to 1 November 2020”, — said the head of government.

He noted that loans will facilitate within the framework of the concessional lending program for families with children and the far Eastern mortgage — also due to the reduction of the first installment. In addition, it is planned to increase the limit on the amount that banks can issue under the program mortgage at 6.5 percent per annum, with 740 billion to 900 billion rubles. It is expected that this housing will be able to improve at least 310 thousand families.

Earlier, in July, an expert on the Economics of Bloomberg’s Scott Johnson said that the Russian authorities should take measures to prevent the subprime mortgage crisis, which could begin from-for initiated by the leadership of the country program of concessional lending at 6.5% per annum.

a Mortgage at 6.5 percent, Russian President Vladimir Putin announced April 16. A few days later, Russian banks have launched appropriate credit products. Within the grace program, you can get a loan to buy an apartment in the building at 6.5% per annum.

the Reduced rate is valid for the whole crediting period. The maximum mortgage amount is limited: in Moscow and St. Petersburg it amounts to 12 million rubles, in other regions of Russia — 6 million rubles. The deadline for the program is November 1, 2020.