Putin instructed to submit proposals on preferential mortgages for families with children under 14 years of age

Russian President Vladimir Putin has instructed to submit proposals by June 15 to provide preferential mortgages to families with children under 14 and families of participants in a special military operation (SVO). This was reported by the Kremlin's press service.

It is specified that the Russian leader gave the relevant instruction on May 21 following a meeting of the Presidium of the State Council "On the development of infrastructure for life." The Prime Minister of Russia Mikhail Mishustin and the head of Tatarstan, the head of the State Council Commission "Infrastructure for Life" Rustam Minnikhanov are responsible for its implementation.

"The Government of the Russian Federation, together with the Commission of the State Council of the Russian Federation on Infrastructure for Life, should submit proposals concerning: a) providing families with children under the age of 14, inclusive, and families of participants in a special military operation with a mortgage housing loan (loan) under a preferential mortgage program for families with children," the report says.

The Family Mortgage program with a 6% interest rate is valid until 2030 and is available for the purchase of apartments in new buildings or the construction of houses. Putin proposed expanding the program to the secondary market in regions with a shortage of new housing.

It is noted that ideas for a differentiated increase in family mortgage limits will be developed depending on the number of family members.

In addition, the president instructed the government of the Russian Federation and the Central Bank to take measures to exclude the possibility of banks charging additional fees to citizens when issuing preferential mortgages.

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On March 14, the Ministry of Finance announced that the new conditions for the distribution of family mortgages on the secondary market in cities where no more than two houses are under construction will begin to operate on April 1, 2025. The ministry clarified that families with children under six years old will be able to purchase an apartment on preferential terms, once using a rate of up to 6% per annum. Secondary housing should be located in an apartment building that is not more than 20 years old and should not be considered an emergency.