The Ministry of Finance opposes a reduction in the mortgage rate for those who took out a loan with state support in April at 12% per year. According to the department, it is impossible to do this according to the law.
The position of the Ministry of Finance regarding the reduction of the preferential rate on loans already issued was voiced by Alexei Moiseev, deputy head of the ministry. After raising the key rate to 20%, the terms of the preferential mortgage lending program with state support changed, the rate rose to 12% per annum. Already at the end of April it was reduced to 9%.
About a thousand Russians who received mortgages at an increased rate turned to the deputies with a request to revise the conditions. According to Moiseev, the issue of changing the rate retrospectively was discussed in the ministry, but they came to the conclusion that this could not be done. Such actions are not provided for by current legislation.
Preferential mortgages have been operating since the spring of 2020 as a way to support citizens and the construction industry during a pandemic. Initially, the rate on housing loans with state support was set at 6.5%, and the duration of the program was only 6 months. Subsequently, the terms of the program were revised, extended several times, and after a sharp increase in the key rate, the terms of registration were also changed.