Thousand Tatarstan residents applying for rural mortgage for 1,5bn
A new programme of state support to purchase a house at a preferential rate from 0,1% to 3% has appeared in Russia
A state rural mortgage programme at very favourable rates has come into force in Russia since this year, which is also available for citizens despite its name, for instance, if they have found a newly built flat or decided to build a house in the suburbs. The programme allows buying a newly built flat, ready-to-move-in second-hand flat and to build or complete the construction of a house with one’s own contractors in the countryside. The rate is 0,1%-3%, while the biggest sum of loan is 3 million rubles. As Realnoe Vremya found out, almost a thousand Tatarstan residents had already turned to the programmer’s operator at 1,5 billion rubles. Our newspaper examined the terms of rural mortgage and discussed its prospects for the republic with real estate experts.
Rates, terms and banks
The preferential rate of the rural mortgage programme is from 0,1% to 3%, which is notably more accessible than usual loans taken out to buy or build a house. The state will compensate for the interest, which is equal to the key rate of the Central Bank of the Russian Federation — this is the gist of the subsidy.
The list of banks that will work with the programme was to be made up by 10 February. However, it was already known that Rosselkhozbank was on the roster of accredited financial institutions. The following terms to participate in the rural mortgage are published on the website of the bank: “The interest rate from 2,7% a year and to 3% in case of no personal insurance. A scheme for payoff can be chosen. Loan security is a pledge of a purchased (built) real property for the money borrowed from the bank”.
Nowadays the Tatarstan regional branch of Rosselkhozbank JSC has received 950 petitions at 1,538 billion rubles from the population of the republic.
Territories and requirements for borrowers
The key moment is that a mortgage in the new programme can be taken out only to buy a house in the countryside. A village, khutor, stanitsa, aul, kishlak, urban-type settlement, workers’ settlement as well as small towns with a population of up to 30,000 people meet this criterion if they are included in the regional development programme.
There are no requirements for a borrower’s age, civil state, place of residence and social status. So citizens can also take out a rural mortgage, most importantly, the future house must be outside the city.
A married man, single mother as well as families without children, one child or large families can take out the loan. It is noteworthy that there is no restriction on borrowers’ children’s age. To compare, the state family mortgage programme requires children to be born in 2018 or later.
Rural mortgage can be taken out to buy a newly built flat or ready-to-move-in second-hand dwelling. It is also possible to build or complete the construction of a house with one’s own contractors. However, one should consider several nuances: firstly, you must have a parcel. It can be purchased, and a house with state support can be built on it. The longest period of works is limited to two years. Secondly, it is necessary to sign an agreement with a contractor — sole proprietor or firm — when building or completing the construction of a house.
It is also important that the house must be suitable for living, that’s to say, with electricity, water supply, sewerage and heating. Besides, its area can’t be less than the norm per family member (fixed on the spot).
Tatarstan