The problem is related to determining the time from which banks begin to receive subsidies for compensation of the mortgage rate to a preferential level
The Association of Banks of Russia informed the government and the Central Bank about the problem that arose after the entry into force of the new terms of family, IT, and Far Eastern and Arctic mortgages. From that moment on, banks had difficulty obtaining subsidies to compensate the mortgage rate to a preferential level. The bankers want to fix the problem and have offered their own solution.
New conditions of preferential mortgage programs
At the end of May 2024, the conditions for the Far Eastern and Arctic mortgages were adjusted. The program has been expanded to a number of categories of citizens, including participants in ITS. It also excluded the requirements for five years of service for employees in some industries.
The new terms of the family program came into force on July 11. From now on, the rate of 6% per annum for the purchase of an apartment in a new building or the construction of an individual residential building applies only to those families where there is at least one child under the age of six. Read more about the changes in the program in the material of RBC Real Estate.
The terms of the IT mortgage have been changed since August 1. Now it is not available in Moscow and St. Petersburg, and for other regions the rate has been increased to 6% (previously it was 5%). In addition, all regions equalized the maximum possible loan amount — 9 million rubles.
In accordance with the new terms of preferential programs, banks begin to receive subsidies for reducing the mortgage rate to a preferential level only from the moment when it is confirmed that funds have been credited to the escrow account for the sale of an apartment in a new building in full. Such confirmation must be given by the borrower for whom the preferential mortgage is issued, because the escrow account is opened in his name.
However, the law does not specify when exactly the borrower should report the receipt of funds. Banks, in turn, do not have the opportunity to encourage borrowers to inform about the receipt of funds for escrow.
As a result, banks incur losses indefinitely. To solve this problem, the Association of Banks proposes as a mandatory condition for mortgage recipients under preferential programs to inform banks in a timely manner about the replenishment of the escrow account.
An exception is proposed in the case when funds from employers, maternity capital, and housing certificates are used as an initial contribution.
In July, the average term of mortgage loans issued under all preferential programs decreased by two years at once compared to June, the United Credit Bureau reported. Before that, it only increased.
English 
Russian 
German 
Polish