We are talking about the fact that at the birth of the second child, the rate is reduced by 1 percentage point to 5%, and at the birth of the third child it is reduced to 4%. The program, apparently, will only work with new loans. Will it be possible to refinance a preferential mortgage, or will you have to buy a new home with each new child?
Reducing the interest rate on a family mortgage after the birth of children will work only for new loans under the state program, Izvestia writes. It is unlikely that it will be necessary to make a purchase of new housing, then there is practically no point in the initiative, experts say. Besides, refinancing is actually a new loan. And banks can do this without unnecessary red tape, almost in two clicks, says realtor, rental market expert, practicing agent Alexander Kharybin:
— When VTB had a similar action, they refinanced it without any problems, even without papers and everything else. So by analogy, of course, it should work that way. It’s impossible to say for sure yet, but, in theory, this is how it should work.
— When refinancing an ordinary mortgage, the bank has the right to refuse without explanation. And in this case, does the bank have the right to refuse?
— Banks with their own internal rules are important, of course, but the law is more important. By law, we have a family mortgage, so, in theory, we should not refuse. As a last resort, you can always go to court.
The refinancing process itself is simple: many documents can be processed directly in the application, visits to the bank are minimized. Business FM columnist Ivan Medvedev shared his experience:
Ivan Medvedev, Business FM columnist, “A few years ago I refinanced my mortgage loan, I remember that I was very pleased with the process. It took no more than a few weeks, and I did everything practically without getting up from the couch. All the certificates and statements were in my hands, since I already had a mortgage and the documents for the apartment were at home, they could simply be photographed and sent to the bank. Other references were sent to me in electronic form. As a result, I came to the bank to which I transferred with a mortgage loan only once — to sign a contract.”
Those who have a child born from January 1, 2018 to the end of 2023 can now apply for a preferential mortgage. Or families with two minors. In his message to the Federal Assembly, the President ordered to extend the program immediately until 2030. These plans were confirmed by the Ministry of Finance.
It is unlikely that families will have to close the old loan in order to take out a new one, says Dmitry Rakuta, founder of the Association of Mortgage Brokers, real estate expert:
Dmitry Rakuta, founder of the Association of Mortgage Brokers, real estate expert, “It seems to me that there are no such restrictions now that it is necessary to close the old mortgage in order to reduce it. I think it’s just about the fact that, having a current mortgage and falling under a new program, an initiative that is planned to be implemented, we will be able to reduce the interest rate upon application, attaching a child’s birth certificate. But there will be no mandatory requirement to close the old mortgage. If they still work only on new mortgage loans that will be issued again, few people will want to close their old mortgage and take advantage of the new conditions, due to the fact that the difference in the rate is not too big — 1-2%. This will not affect the monthly payment and overpayment so much, because borrowers repay the mortgage ahead of time.”
If a family without children has decided to buy an apartment in Moscow and plans to replenish, then within the MKAD it will be easy to find an option with three rooms for 23.5 million rubles. The average mortgage rate on the market is now about 15%. The loan is for 30 years with an initial payment of 21%, that is, 5 million rubles.
business fm on telegram
Why did the shares of major cosmetics manufacturers fall?
What to do for the weekend: film premieres, new books, exhibitions
The French President said that he sees no restrictions on the issue of support for Ukraine
Macron: we need to “make a strategic leap.” George Bovt’s comment
Customs has strengthened inspections of goods imported into Russia
Special Project “Business speaks”: stocking case on Wildberries
You will have to pay more than 230 thousand rubles every month. As a result, the overpayment will amount to 65 million. But if the rate is preferential, that is, 6%, then the apartment for a mortgage will be twice as cheap. You will need to pay 111 thousand rubles per month. If the rate decreases by 1 percentage point with each subsequent child, then the payment, respectively, will also decrease by 10 thousand rubles each time.
It turns out that a metropolitan family that plans children and wants a new large apartment will have to think about where to get more than 200 thousand rubles a month. At least, before the baby is born and the rate becomes preferential. Most likely, both will have to work to close the loan. And such conditions are not very conducive to adding to the family.
English 
Russian 
German 
Polish