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Far East residents will receive a mortgage at 2% per annum

People in the Far East having a right to obtain a hectare of land as well as large families residing in the Far Eastern Federal District will be able to get preferential mortgages.

The loan rate will not exceed two percent per annum. People will be able to get a loan for the purchase, construction and repair of housing. This was reported by Yuri Trutnev, Deputy Prime Minister and Plenipotentiary Envoy of the President of the Russian Federation in the Far East Federal District, in his interview with RG.

"We are developing a mechanism for providing preferential mortgages in the Far East for the purchase, construction and repair of housing, both apartments and houses. The loan will be granted for up to 20 years, without downpayment at two percent per annum. This is 4.8 times less than the market average, "said Yuri Trutnev.

The Far East Development Fund will obtain a targeted subsidy for the project of 7.5 billion rubles. The Fund will finance the program operators (mortgage agency, bank, etc.) under state guarantees of the regions, and they in their turn will issue loans to people, the Deputy Prime Minister noted.

Such measures are envisaged as part of the fertility support program in the region.

"We’ll strive to provide a 2% rate for the people. At the moment, the preferential mortgage is provided for two categories: people who want to build own houses on the received "Far Eastern hectare", and large families," he said.