The State Duma explained why the Ministry of Finance decided to improve the conditions of concessional mortgages for banks 17:24

The Russian Ministry of Finance plans to improve the conditions of concessional mortgages for banks, since the issuance of mortgages in the country has decreased, and the resources of credit organizations for these purposes have also become more expensive. This was stated by Arkady Svistunov, Deputy Chairman of the State Duma Financial Market Committee, deputy of the LDPR group: transmits Duma TV.

“The basic rate is in an upward trend and may increase with a downturn. Accordingly, banks’ resources become more expensive in principle, and they direct these resources to granting concessional mortgages. So it seems that banks have raised this question because the profitability and margins of this business have decreased,” the deputy said.

Svistunov also announced that a decision on this issue will be made after evaluating the burden on the Russian budget. According to him, the initiative is currently under review, most likely in the Ministry of Finance and the government.

June 10 RBC cited two sources in the financial market reportedIt was stated that the Ministry of Finance of the Russian Federation agreed to increase the premium for calculating compensation to banks for granting privileged mortgages after July 1. We are talking about increasing the premium to the Central Bank key rate, which is used to calculate compensation for banks’ income losses under state-sponsored programs.

It was known before who could to obtain mortgage 6 percent.

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Source: Gazeta

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