Russia began issuing mortgages at 6.5 percent per annum

On April 16, Russian President Vladimir Putin announced the launch of a special subsidized mortgage as part of business support.

Apply for such mortgage will be available until November 1 this year, and the rate will be valid for the entire loan term. Within the framework of the program, it will be possible to take a mortgage at a rate of 6.5 percent per annum on buying an apartment comfort class at a price of up to 3 million rubles in the regions and up to 8 million in Moscow and St. Petersburg.

Mortgage rate of 6, 5 percent per annum will only be available to new borrowers. It will be impossible to refinance previously taken loans under such conditions.

Immediately after the president's statement, without waiting for the government's decision, VTB Bank was the first of the banks to begin accepting applications and issuing mortgages on purchase of apartments in new buildings under the new state subsidy program. The rate on it will be 6.5 percent, the down payment - from 20 percent. VTB Bank was the first bank to start accepting applications and issuing mortgages on purchase of apartments in new buildings as part of a new state subsidy program. The rate on it will be 6.5 percent, the down payment - from 20 percent. VTB Bank was the first bank to start accepting applications and issuing mortgages on purchase of apartments in new buildings as part of a new state subsidy program. The rate on it will be 6.5 percent, the down payment - from 20 percent.