Bashkiria residents will be able to take out preferential mortgage for private houses

The Russian government has increased the limits on the issuance of mortgage loans until 2022 and extended the effect of the state program to individual residential buildings.

Thus, funding has been increased to 2.4 trillion rubles. Among other things, there is an opportunity for lending to those who want to buy or build a private house. This can be done under a sale and purchase agreement or a house transfer agreement after its construction.

The maximum loan amount is 3 million rubles; the initial payment is at least 15 percent. One can take out a mortgage at 7 percent per annum.

Loans are issued until the end of the preferential mortgage program, that is, until July 1, 2022.

Recall that Bashkiria is one of the leaders among the country's regions in terms of participation in the mortgage lending program.

The support is provided by the national project "Housing and Urban Environment", which was developed at the initiative of Russian President Vladimir Putin. The large-scale project involves the construction of 120 million square meters of housing per year by 2030. Housing conditions can be improved annually by about 5 million families. Moreover, by this time, the rate of preferential mortgages is planned to be reduced in the country to 6 percent. 

Author: Galina Bakhshieva