‘Mortgages should be affordable’: which borrowers can get a preferential purchase of housing back

Preferential mortgages for young people, industrialists, builders and scientists

In Russia, they propose to return to preferential mortgages in new variations. The State Duma allowed the appearance of at least four preferential mortgage programs. The projects are under discussion, but work is actively underway, said Anatoly Aksakov, the chairman of the State Duma Committee on Financial Market.

As a support measure, these programs will primarily be designed for young professionals, as well as industrialists, construction workers and representatives of science. In the absence of mass preferential mortgages, these projects will solve the housing problem of workers in strategically important industries. It is only important to strictly streamline and regulate the conditions of the programs in order to avoid overheating of the housing market and uncontrolled demand, the authors of the initiative explain.

“I think that in the next session we will start discussing several new programs at once, which, on the one hand, will simplify the purchase of housing for citizens, and on the other hand, will allow the state to increase its capabilities and resources in critical areas," Anatoly Aksakov said.

According to him, industrial mortgages will help support valuable industry specialists employed in advanced high-tech industries. “There is also a proposal to introduce construction mortgages in those regions where large-scale construction is currently underway or planned — both residential and infrastructural, and, again, industrial," Parliamentskaya Gazeta newspaper quotes him as saying. In this part, Tatarstan, according to experts, has every chance to participate in the program.

Can the State Housing Fund become the operator of new state programs?

According to Tatarstan State Duma deputy Ayrat Farrakhov, a situation has developed in Russia in which the government and the Central Bank, at the instruction of the president of the country, are aimed at cooling the real estate market. “In order for inflation not to grow, and inflation is a tax for the poor, a tax on the middle class, an additional tax. It really slows down development," the speaker noted.

An important condition, according to him: new mortgage programs should not lead to an increase in the cost of housing on the market. “It's very important to discuss this and find this balance.”

“Tatarstan has its own programs, which have already shown their viability. Very effective projects and the team that works with them. Therefore, it would be very good if we implement new federal preferential mortgage programs primarily through the State Housing Fund under the rais of the Republic of Tatarstan," the interlocutor of the publication expressed his opinion.

“We would like to see the result as soon as possible — we are doing everything for this”

Ilya Wolfson, another representative of Tatarstan in the State Duma, a member of the Committee on Construction and Housing and Communal Services, also supports the idea of the need to return a preferential mortgage:

Separately, the speaker noted the role of Tatarstan as one of the leaders of construction in the country. If construction mortgages are introduced in those regions where large-scale construction is currently underway or planned, the republic will definitely be among the participants in the program.

“Tatarstan acts as the flagship for all construction programs and demonstrates the greatest efficiency in implementation. All projects in the republic work, the funds are fully disbursed, the plan is being implemented even ahead of schedule. Each program is under the control of the rais of the Republic of Tatarstan, and the entire team of the republic works harmoniously for the result. At the federal level, Tatarstan is always set as an example.”

It is expected that the issue of launching new mortgage programs will be considered already in the autumn session of the State Duma. But the timing and parameters of the new preferential mortgage options are still unknown. “Preliminary work is underway, but the most important thing is to get to the point. Because so far these are words, and we, of course, would like to see the result, and as soon as possible. We are doing everything for this," Ilya Wolfson stressed.

Specialists will be able to “engage in production, not solving the housing issue”

The scientific community also welcomes the initiative to support scientists with housing benefits. Riyaz Minzaripov, the president of the KFU, Doctor of Sociology, Professor, head of the Department of Sociology, is convinced that this measure will avoid brain drain, especially among young promising specialists:

The issue of supporting scientists is relevant both for the KFU and for many Russian universities, where they strive to retain staff. “Young employees come and immediately raise the issue of payment. Of course, there is always not enough money in life, especially since it is getting more expensive. Therefore, they are also very concerned about these issues. If there was a preferential mortgage, then they would work calmly. Many people took a social mortgage at one time, already paid it off and continue to work at the university," said the honorary worker of higher professional education of Russia.

According to Anatoly Aksakov, one of the tasks is to create scientific and industrial centres that will have their own satellite cities or urban areas, following the example of academic towns. Employees of such centres will have the opportunity to purchase housing on preferential terms.