Russia’s largest Bank, announced a change of terms for those who intend to take a mortgage loan after March 2016. We are talking about a possible increase in interest rates under the program of mortgage lending with state support.
This told the Director of Department of retail non-transactional products Sberbank Natalia alymova. As transfers TASS, the representative of Sberbank assumed that preferential rate on the mortgage may be slightly higher.
But how exactly will increase interest, she said. Now loan rate subsidized mortgages in this credit institution is 11.4 per cent per annum.
“We plan to petition the Finance Ministry for extension of the program of subsidizing of the mortgage,” alymova said. Until the end of March 2016, the limit of Sberbank on the issuance of mortgages in the framework of this project will amount to 240 billion rubles. The new limit will be approximately at the same level, said alymova.
Earlier, the Minister of construction and housing of Russia Mikhail Men announced the decision to extend the program of mortgage with state support – from April until the end of 2016. Tentatively limit is 16.5 billion rubles, he said. The money for subsidies is distributed between creditor banks that they lowered the interest rate of food for up to 12 percent per annum.
According to experts, “RG”, this solution will support not only young families with average incomes (last year this program was purchased every third apartment in Russia), but also the construction industry.
As of 1 January 2016 the subsidy program of the Russian banks issued 210 thousand mortgage loans totaling 374,3 billion.