The rest of the lending conditions remained the same details on the website of RIA Voronezh.

The Government of the Russian Federation reduced the rate on preferential mortgage from 12 to 9%

Prime Minister Mikhail Mishustin signed a decree on a reduction in the rate under the program “Preferential mortgage”. Banks will begin to issue loans under 9, not 12%, as it was before, the press service of the Government of the Russian Federation on Sunday, May 1, said. The difference with the market rate will be compensated by the state. The state program was extended until the end of 2022.

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The rest of the lending conditions have been preserved. The program will continue to operate on the purchase of housing in new buildings, the construction of a private house or the purchase of a land plot for its construction. The initial contribution should be at least 15%. The maximum credit for real estate in Moscow, St. Petersburg, Moscow and Leningrad regions should not exceed 12 million rubles, for other regions-6 million.

The order to reduce the rate on preferential mortgage at the end of March was given by Russian President Vladimir Putin. Initially, the state program planned to leave the validity of the state program – until July 1.

Earlier, the Board of Directors of the Bank of Russia decided to reduce the key rate from 17 to 14%. The organization also gave forecasts for inflation and gross domestic product (GDP).