The Ministry of Finance of Russia announced that the down payment on concessional mortgages should be increased from 20% to 30% and that the down payment on privileged mortgages should be increased from 20% to 30%. He proposed reducing the maximum loan size for St. Petersburg and the regions from 12 million rubles to 6 million rubles. This was reported by Interfax With reference to sources.
In addition, the ministry proposes to reduce the maximum amount of subsidies banks receive by 0.5 percentage points and limit the ability of citizens to receive more than one concessional loan at the same time.
The Ministry also proposes to impose restrictions on the size of the borrower’s maximum debt burden, which should not be more than 50%, taking into account the soft loan granted to him, and to impose requirements for his income level. The number of Russians who can get affordable loans.
This week Deputy Minister of Finance Ivan Chebeskov reported “Izvestia” of the Ministry of Finance submitted to the government a draft decision containing changes to the concessional mortgage program. According to him, the regulator is concerned that the mortgage portfolio is growing too quickly and its quality is deteriorating. Possible measures include increasing the minimum down payment on concessional loans.
Formerly Central Bank of the Russian Federation raised key rate up to 15%.