Russian President Vladimir Putin proposed to support the construction industry and introduce a mortgage program with a rate of 6.5%

Vladimir Putin proposed to work out a preferential mortgage program, which will allow purchasing of comfort-class housing in new homes with a rate of 6.5% per annum. This program will work throughout the loan term, which can be started until the 1st of November, 2020.

Also, Vladimir Putin said that when carrying out preventive measures at the enterprises of the construction industry, it is necessary not to interrupt the construction process, make flexible decisions and find a balance.

Further on the most important assignments following the meeting:

1. Launch a preferential mortgage program. The rate for citizens should be 6.5%, the rest part will be subsidized by the state. Such a mortgage can be issued before the 1st of November when purchasing new comfort class housing at a price of up to 3 million rubles in the regions and up to 8 million rubles in Moscow and St. Petersburg. The preferential rate will be valid for the entire loan term. According to preliminary estimates, in 2020 the state will direct 6 billion rubles to subsidize preferential mortgages.

2. Ensure the availability of loans for construction companies. But such assistance will be available only to companies that maintain employment and commit themselves to complete all facilities. Detailed criteria should be determined by the government. 12 billion rubles were allocated for a lending program for the construction industry.

3. To capitalize the Fund for the protection of the rights of interest holders by 30 billion rubles. These funds will be used to "solve the problems accumulated in past years", - completion of unfinished houses.

4. Provide state corporations Dom.RF with a state guarantee of 50 billion rubles for the purchase of new apartments from developers. In the future, citizens will be able to purchase these apartments, including through a preferential mortgage program.

5. Redistribute part of the costs within the framework of the national project “Safe and high-quality roads” and programs for the resettlement of emergency housing. The pace of resettlement of such housing, as well as construction and repair of roads should be increased.