Russian VTB Bank is going to intensify efforts to increase the availability of mortgages for the population as part of a long-term programme for the development of its retail business. In this regard, by 2023 the bank plans to increase the issuance of mortgages as part of state support for families with children to 50,000 loans by 130 billion rubles.
It is noted that to date, more than 26,000 Russian families have already received preferential mortgages from VTB in the amount of almost 73 billion rubles since the launch of the programme in 2018. For 6,000 families, the rate has been reduced as part of existing loans. To date, the “children’s mortgage” is available to participants in the state programme taking out a loan at VTB at 5% per annum.
It is specified that the mortgage programme with state support allows issuing a preferential loan for families who had a second or subsequent child from January 1, 2018, to December 31, 2022. A rate of 5% per annum is valid for a loan at all VTB offices in Russia, for the entire period of the agreement, subject to personal and property insurance.