The VTB bank has lowered the rate under the ‘Mortgage with State Support’ programme to 6.1 per cent, 1rnd reports. Starting from September 17, the demand for loans increased by 1.5 times. To date, the VTB’s clients have already issued over 33,000 mortgage loans for 100 billion rubles. The average amount of one loan is about 3 million rubles.
It is stated that the Rostov Region is one of the leading regions in terms of the volume of preferential mortgages issued. The programme takes up to a third of the total volume of mortgage loans issued by VTB also in Moscow and the Moscow Region, St. Petersburg, and the Leningrad Region, the Republic of Tatarstan, the Krasnodar Territory, and the Novosibirsk Region. The maximum loan amount is 12 million rubles for Moscow and its region, as well as for St. Petersburg and the Leningrad region, and 6 million rubles for the rest of the country. The maximum possible term for a loan is up to 30 years.
It is specified that the minimum down payment on a preferential mortgage for VTB borrowers is 15 per cent of the cost of the purchased property. As part of the joint programmes with individual developers, it is possible to get a mortgage with a rate of 0.5 per cent for the first few years, and then a developer will cover the rest of the costs.