Sber will launch loans for contractors for the construction of private houses

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Sberbank will issue loans to contractors in housing and communal services, the interest rate is from 6%, but it can be reduced to 1% if the contractor complies with the Dom.RF program

Russian contractors will be able to issue a loan from Sberbank for the construction of individual residential buildings and repay it with money from escrow accounts opened by individual customers under construction contracts. This was announced by Anatoly Popov, Deputy Chairman of the Board of Sberbank, at the St. Petersburg International Economic Forum (SPIEF).

With the help of the new program, construction companies can reduce the amount of their own funds needed for construction and direct the released money to other business purposes, Sberbank believes. “In order for representatives of small and micro businesses to have funds for the construction of residential housing and so that as many Russians as possible could live in their own house, we offered a specialized loan product that allows construction without attracting their own funds,” Anatoly Popov said.

It is noted that any companies engaged in individual housing construction (IHS) can take a loan for the construction of private houses. The loan is issued for a period of three years. At the time of disclosure of the escrow account, early repayment of the debt occurs. The deposit is determined individually. The interest rate is from 6%, but it can be reduced to 1% if the contractor complies with the Dom.RF program.

As specified by the deputy director of the “House.Russian Federation” Alexey Nidens, the budget of the program for financing contractors working through escrow accounts is about 1 billion rubles. According to the estimates of the Institute of Housing Development, this will allow subsidizing preferential loans to contractors for the construction of at least 1 million square meters. m of individual housing. “At the same time, contractors get the opportunity to scale their business and fulfill orders from new customers faster, and citizens get confidence in the safety of their funds,” said Alexey Nidens.

The law, according to which the escrow account mechanism will extend to individual housing construction (IHS) under contract agreements, is scheduled to be adopted by the end of July. He will have to earn money in the fall. Today, escrow accounts are widely used in the market of new buildings. In March last year, this mechanism was extended to cottage settlements (low-rise residential complexes), which consist of individual residential buildings and are being built by a development company.

See also:

  • Private houses will be built with escrow. What does it mean
  • What will happen to the mortgage for residential housing after the cancellation of the preferential program under 8%
  • The summer residents were offered 3 years to develop the land. What happens if you don’t make it in time

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