VTB abolished mandatory commissions for developers on mortgages with state support

VTB was the first on the market to abolish mandatory commissions for developers when issuing preferential housing loans. The decision is valid from Monday, May 12, the bank's press service said.

"The decision was made in support of the initiative of the President of the Russian Federation aimed at increasing the affordability of housing for families," VTB explained and called on other banks working with state support to follow suit.

The rest of the loan terms under the state programs, including the amount of the down payment, remain unchanged.

According to Georgy Gorshkov, Deputy President and Chairman of the Management Board of the bank, "a unified and transparent system for the entire market is needed for stable and uniform mortgage payments." "We hope for the early adoption of regulatory decisions that will allow us to maintain sales volumes and support the construction industry, providing families with the opportunity to purchase their own homes," he added.

Earlier, VTB proposed a set of measures to maintain the volume of preferential mortgage loans due to the abolition of mandatory government support fees. Among them is an increase in the amount of subsidies for banks for all preferential programs and its advance payment, as well as the abolition of macroprudential allowances for new disbursements and the dissolution of the previously created macroprudential buffer, the bank said. VTB expects that these proposals will be taken into account when developing a final decision by the regulator and the government.

In the first four months of 2025, government-backed mortgages accounted for almost 95% of the total volume of housing loans issued by VTB.