Children are the engine of preferential mortgages

Modern interior design living room with white sofa, coffee table, and floor-to-ceiling windows overlooking city skyline.

Дети - двигатель льготной ипотеки

They want to link the size of family mortgage rates to the number of children in the family: the more of them, the lower the rate.

Until recently, everyone was racking their brains: will they keep the family mortgage after July 1, 2024? The President has put all the dots on this issue. In his message to the Federal Assembly, he announced the extension of the family mortgage until 2030: “Supporting families with children is our fundamental moral choice. A large family with many children should become the norm of the philosophy of society, the guideline of the entire state strategy.” Vladimir Putin also noted that in the future it is necessary to pay special attention to families with children under six years old, making a rate for them below 6%, for which a mortgage is issued now. It is assumed that the interest will be reduced to 5% if a second child is born in the family, and to 4% after the birth of the third and subsequent children. There is every reason to believe that such conditions will help stimulate the birth rate and improve the demographic situation in the country, because the housing issue for Russians is still one of the priorities, and cramped housing conditions are one of the key reasons why young people postpone the birth of heirs.

The further fate of the preferential mortgage has yet to be decided by the Ministry of Finance. No official documents have been accepted yet, but in the “HOUSE.The Russian Federation has already provided some details. According to the corporation, preferential loans at lower interest rates will be extended only to new loans under the state program, and if the family has already taken out a mortgage, then it will be able to issue a new loan at a reduced rate after the birth of the next child, but it will have to fulfill two conditions – to purchase a new living space larger than the previous one, which they already have, and to fully pay off the previously taken out mortgage. A new approach to preferential mortgages will help young families who are just planning their first child, and, of course, those with many children who want to expand. In addition to the described advantages, the expansion of state programs will have a positive impact on consumer demand and make multi-room housing more affordable for potential buyers.

However, there is one catch for the residents of the capital. It will not be easy to buy a larger property in Moscow for a family mortgage limit of 12 million rubles, which means, according to real estate market experts, when developing new conditions for a preferential mortgage, it is necessary to provide an adequate maximum amount of such loans, taking into account prices in the region.

The family mortgage, launched in 2018, has improved the living conditions of more than 900 thousand Russian families, but the government, as we can see, intends to increase this figure. To do this, large families will have to be surrounded with such attention and care that pale against the background of all others. As has been repeatedly suggested, mortgage loans for them should be made either interest-free at all, or at a symbolic 0.1%, or after the birth of a third child, they should be provided with apartments for free and, plus, additionally exempt from personal income tax. Russians need to show, not in words, but in practice: the more children they have, the more advantages and privileges they will receive. The state must do everything to make Russians jealous of the many children and strive to join their ranks.

Elena Kazantseva.



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