VTB refinances mortgage loans at 5%

VTB is launching a mortgage refinancing program under state subsidies for families with children. The rate for the entire term of the loan will be 5% per annum.

Families with a second and subsequent child born between January 1, 2018 can take advantage of the new conditions of the “Mortgage with State Support”. As part of the offer, customers can refinance loans issued under the state program before April 13, 2019, as well as other mortgage loans that meet the parameters of state subsidies (including previously refinanced ones).

Mortgages with a rate of 5% per annum are available at all VTB offices in Russia. Price parameters apply to the entire period of the contract, subject to personal and property insurance. The maximum loan amount under the program is set at 12 million rubles when a borrower purchases housing in Moscow and the Moscow Region, St. Petersburg and the Leningrad Region, and 6 million rubles in other regions of the Russian Federation. The maximum loan term is up to 30 years.

“The state program to support families with children is an extremely important tool in solving the housing issue. In April, VTB reduced the rate for obtaining a mortgage loan under this program to 5% per annum. Since the availability of comfortable housing is one of the main conditions for the development of a family, we are extending a special offer to refinance existing mortgage loans,” commented Andrey Osipov, Head of the Retail Products Department, Senior Vice President of VTB.

It is possible to refinance previously issued mortgage loans if the finished or under construction housing was purchased from a legal entity (the first owner). In rural areas of the Far Eastern Federal District, the program also applies to ready-made objects purchased on a mortgage from an individual or legal entity in the secondary market and residential buildings with a land plot.