Mishustin signed a resolution on the extension of a preferential mortgage program until July 2021

Prime Minister Mikhail Mishustin signed a resolution of the Cabinet of Ministers on the extension of a preferential mortgage program at 6.5% until July 1, 2021. This was reported on the government website .

"The extension of the program will allow you to issue another 600 thousand loans for 1.8 billion rubles. Of these, 152 thousand loans for 303 billion rubles can be issued before the end of the year," the message says.

Recall that the Government of the Russian Federation adopted a decision on the program of preferential mortgage at 6.5% at the end of April. The document stated that the program applies to loans issued from April 17 to November 1, 2020, and preferential conditions are valid for the entire loan term. The difference between 6.5%that borrowers will pay, and the state will compensate the market for banks. The maximum amount of mortgage loan for the purchase of housing in Moscow, St. Petersburg, Moscow and Leningrad regions initially amounted to 8 million rubles, and in other regions - 3 million rubles. The initial contribution was at least 20% (then the threshold was reduced to 15%), and only housing in a new building can be bought as part of the program.

At the end of June, the government increased the maximum amounts of mortgage loans under the program from 8 to 12 million rubles for residents of Moscow, St. Petersburg, Moscow and Leningrad regions and from 3 to 6 million rubles for residents of other regions.

On October 12, it became known that the Ministry of Finance developed a draft government decree on the extension of the preferential mortgage program until December 31, 2021. Also, the Ministry of Finance proposed increasing the maximum amount of loans that can issue banks under this program, from the current 900 billion rubles to 2.8 trillion rubles.

On October 14, Russian President Vladimir Putin proposed extending a preferential mortgage program at 6.5% until mid -2021. "Indeed, this measure is popular and in demand, and really supports people. It should not stop its functioning, let's extend it at least until the middle of next year," Putin said at a meeting with government members. As a result, the Ministry of Finance adjusted the initial project.

On October 22, at a government meeting, Mishustin announced the decision to extend the program until July 1, 2021. "Today, on the agenda of the government meetings, the issue of millions of people. We are extending the preferential mortgage program at a rate of 6.5% until July 1, 2021. It was originally calculated until November 1 and proven itself. Many families used this program. It helped to support the construction industry. The president spoke out of the last week at a meeting with the Government. The rate until July 1, 2021, today we will consider the necessary amendments to the legislation, ”the head of government said then.

Later, the head of the Central Bank Elvira Nabiullina supported this decision, but reminded of potential risks of market overheating.