Khusnullin urged to work out the installment program after the housing is put into operation

On April 15, Russian Deputy Prime Minister Marat Khusnullin called for the introduction of installments for new residential buildings after their commissioning. In his opinion, it is necessary to develop various ways of purchasing housing.

Currently, developers use the installment payment mechanism in accordance with the law. As part of this method, people buy housing before it is put into operation.

"It is proposed to work out the provision of installments when buying ready—made housing from developers and after putting the facility into operation, if they have fully paid off with banks, closed escrow accounts, and owe nothing to anyone," Khusnullin said during an expanded meeting of the Presidium of the State Council of the Russian Federation.

According to him, for this it is necessary to establish a pledge on the specified property. This mechanism should be in demand, as developers are asking for it, Khusnullin added.

Preferential mortgages have helped 3.8 million families buy homes in five years.

At the meeting with Mutko, Putin called this issue one of the most sensitive for Russians.

On the same day, the head of the Central Bank of Russia, Elvira Nabiullina, announced that mortgage growth rates should not be increased using risky loans. It is specified that this year the Central Bank predicts mortgage growth in the range from 3% to 8%.