The Government of the Russian Federation is preparing amendments to the law to extend the preferential rate of 6 percent for families with children for the entire period of
mortgage loan. This was announced at the Sochi-2019 forum by the Minister of Labor and Social Protection Maxim Topilin. a> at a rate of 6 per cent, granted for a maximum of 8 years at the birth of second and third children. This threshold will be lifted.
In November 2017, Russian President Vladimir Putin announced the launch of the
mortgage lending program under 6 percent per annum for families, in which from January 1, 2018 to December 31, 2022, the second and subsequent child is born. In the first 9 months of 2018, banks issued subsidized
mortgage loans for $2 billion. Last year, 5.9 billion rubles were allocated for the program in the budget, in 2019 - 9.2 billion, in 2020 - 11.5.
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