Ministry of Finance of the Russian Federation is considering the possibility of reorienting a support program for foreign currency mortgage lenders

15 March 2017, Wednesday

Ministry of Finance of the Russia will consider the possibility of paying large amounts of money to foreign currency mortgages than to ruble borrowers in the framework of the state program of assistance to mortgage borrowers. This was announced by Deputy Finance Minister of the Russian Federation Alexey Moiseev.

"The main difference between ruble and currency – the amount that is satisfied ruble does not suit currency. So it is possible to consider a larger amount in the case of foreign currency mortgages”, - the deputy minister has said.

He noted that Ministry of Finance was consulting with the Agency for Housing Mortgage Lending and was developing conditions that would make the program more focused on foreign currency mortgage lenders.

"The program was extended until May. There is not so much money left. So if we quickly correct the conditions, perhaps we will solve this problem", - Moiseyev has said.

The program of assistance to mortgage borrowers, who found themselves in a difficult life situation, was launched in April 2015. It is scheduled to be completed on May 31, 2017. At the same time, according to the Agency for Housing Mortgage Lending, as of March 2017, the funds have been fully spent, new applications for participation in the program are not accepted.
 

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