Sber cancelled the commission for developers on preferential mortgage programs

Sberbank has canceled the commission for developers on preferential mortgage lending programs. This was reported in the press service of the credit institution Izvestia on May 12.

"The Savings Bank has canceled the commission for developers on preferential mortgage lending programs for Domklick. The changes will take effect on May 13 and will affect the Family Mortgage, Mortgage for IT, and Far Eastern and Arctic Mortgages programs, they added.

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Earlier in the day, VTB also abolished mandatory commissions for developers when issuing preferential housing loans. The rest of the loan terms under the state programs, including the amount of the first installment, remained unchanged. It was noted that the decision was made in support of the initiative of Russian President Vladimir Putin aimed at increasing housing affordability for Russian families.

Prior to that, on April 17, it became known that the average term of mortgage loans issued in Russia had jumped. In February alone, the indicator increased by five months and approached a record 26 years, according to data from the Central Bank of the Russian Federation.