The Ministry of Finance abandoned a preferential mortgage for war participants in Ukraine

The Ministry of Finance of Russia did not support the idea of a preferential mortgage at 2% for the war participants in Ukraine, according to the initiative of the Deputy Minister of Finance Ivan Chebeskov.

The document says that the initiative requires the allocation of additional funds from the federal budget, and the expansion of preferential mortgage programs has already caused a disproportion in the market. In addition, a mortgage with a reduced percentage that became massive did not make housing more accessible to Russians, the answer says.

One of the authors of the initiative, the deputy chairman of the State Duma Committee for Construction, Sergei Kolunov previously said that the program will affect about 700 thousand participants in the war and bring more than 1 trillion rubles to the budget due to the development of the construction industry.

In April 2024, Vladimir Putin instructed to start a preferential mortgage program for 2% for participants in the hostilities from the Belgorod region, as well as the occupied regions of Ukraine.

The program of a total preferential mortgage at 8% per annum appeared in Russia in 2020. Later, programs for IT specialists and residents of the Far East appeared. According to RBC, this led to high demand for mortgage loans - they began to be used for investment in real estate - and housing prices began to increase. In December 2023, the government limited the number of mortgage loans for one borrower. Then the rule appeared - "one preferential mortgage in one hands."

On July 1, 2024, the program of preferential mortgage ended. The family mortgage was extended until 2030. According to the results of the program, housing availability has decreased to a minimum over the past 10 years.