The Ministry of Finance saw no reason to expand the family mortgage
There is no reason to expand the family mortgage now, Deputy Finance Minister Ivan Chebeskov told Izvestia. This issue was publicly discussed at the end of February, when Deputy Prime Minister Alexander Novak instructed the Ministry of Construction and the Ministry of Finance to consider the possibility of allowing couples with one child under the age of 18 to take out family mortgages.
In the last quarter of 2024, the possibilities of obtaining a family mortgage really deteriorated. As the Deputy Finance minister reminded Izvestia, the cost of funding for banks increased sharply at the end of last year. Expensive deposits made issuing new loans more costly for financial organizations. Therefore, the government has increased the amount of subsidies to banks for issuing family loans, he added.
As a result, family mortgage payments increased in February. According to Dom.rf, the operator of state programs, the volume of mortgage loans for families with children increased by 60% compared to last year and reached 181 billion rubles.
In the first two months of 2025, 21.4 million square meters were commissioned in Russia. The cost of housing is 3.8% more compared to the same period in 2024, said Kirill Klimentyev, an analyst at Cifra Broker. However, the situation may worsen due to the high key interest rate (21%), which not only reduces demand for mortgages, but also makes lending more expensive for developers.
The acceleration of demand for housing in the case of the expansion of family mortgages would lead to an increase in real estate prices by 16-18%, said Vladimir Chernov, analyst at Freedom Finance Global. This is higher than expected inflation, which the Central Bank predicts will average almost 10% in 2025.
Read more in the exclusive Izvestia article:
It's not for you to lend: the financial authorities do not intend to expand the family mortgage
Переведено сервисом «Яндекс Переводчик»
